By Commodity News Service Canada
WINNIPEG, March 14 – The Canadian dollar eased relative to the US dollar on Friday amid a lack of risk sentiment due to concerns about political problems in Ukraine, analysts said.
Traders were also being cautious ahead of the weekend, as residents of Crimea will vote whether to stay with Ukraine or join Russia on Sunday, March 16.
The Canadian dollar closed at US$0.9013 US$1=C$1.1095 on Friday, which compares with Thursday’s North American settlement of US$0.9047 or US$=C$1.1053.
Ongoing worries about slow economic growth in China also weighed on the loonie.
However, the downside was limited by spillover support from the advances seen in commodities, including gold and crude oil prices.
Canadian bonds were little changed as traders didn’t want to push the market too far one way or the other ahead of the vote in Crimea this weekend, participants said.
The two-year bond yielded 1.007% late Friday, from
1.009% late Thursday. The 10-year bond yielded 2.392%, from
2.385%. Bond yields fall as their prices rise.
