By Commodity News Service Canada
WINNIPEG, May 12 – The Canadian dollar was nearly unchanged relative to the US dollar on Monday, as traders were being cautious ahead of key US retail sales data, due out on Tuesday, brokers said.
Traders were also looking ahead to Thursday’s US industrial production figures, as well as housing and consumer confidence reports out of the US on Friday.
The Canadian dollar closed at US$0.9177 or US$1=C$1.0897 on Monday, which compares with Friday’s North American settlement of US$0.9178 or US$1=C$1.0896.
Some support for the Canadian dollar came from the strong advances seen in commodity prices, including crude oil, gold and copper.
Canadian bonds closed lower amid quiet activity, as investors were more interested in riskier assets on Monday, analysts said.
The two-year bond yielded 1.073% late Monday, from 1.059% late Friday. The 10-year bond yielded 2.400%, from 2.363%. Bond yields fall as their prices rise.
