By Commodity News Service Canada
WINNIPEG, May 5 – The Canadian dollar firmed against the US dollar on Monday amid quiet trade due to holidays in Japan and other places in the world, analysts said.
The Canadian dollar closed at US$0.9131 or US$1=C$1.0952 on Monday, which compares with Friday’s North American settlement of US$0.9107 or US$1=C$1.0980.
Strength in gold prices helped to underpin the value of the Canadian dollar, though weakness in crude oil limited the upside.
Ongoing worries about slow Chinese economic growth and political problems in Ukraine kept the Canadian dollar from breaking out of its recent trading range.
Canadian bonds closed lower, following the US Treasury market after the release of strong US service-sector data, traders said.
The two-year bond yielded 1.070% late Monday, from 1.068% late Friday. The 10-year bond yielded 2.371%, from 2.350%. Bond yields fall as their prices rise.
