By Commodity News Service Canada
WINNIPEG, April 15 – The Canadian dollar moved lower against the US dollar on Tuesday, as concerns about slow economic growth in China were bearish, analysts said.
The Canadian dollar closed at US$0.9110 or US$1=C$1.0977 on Tuesday, which compares with Monday’s North American settlement of US$0.9130 or US$1=C$1.0953.
Spillover pressure from the sharp declines seen in commodities, including crude oil, gold and copper, also weighed on the value of the Canadian dollar.
Traders were said to be evening positions ahead of the Bank of Canada’s policy announcement on Wednesday, where they are expected to keep interest rates steady at one per cent.
Canadian bonds ended higher, as worries about political problems in Ukraine and Russia had traders more interested in safe-haven assets, brokers said.
The two-year bond yielded 1.047% late Tuesday, from 1.052% late Monday. The 10-year bond yielded 2.383%, from 2.412%. Bond yields fall as their prices rise.
