By Commodity News Service Canada
WINNIPEG, May 15 – The Canadian dollar was slightly firmer compared to the US dollar on Thursday, seeing some follow-through buying on Wednesday’s advances, analysts said.
The Canadian dollar closed at US$0.9194 or US$1=C$1.0877 on Thursday, which compares with Wednesday’s North American settlement of US$0.9189 or US$1=C$1.0882.
Better than expected Canadian manufacturing data was also bullish. Statistics Canada said manufacturing sales rose 0.4 per cent to C$50.9 billion in April, beating expectations of 0.1 per cent jump.
However, sharp losses seen in crude oil, gold and copper prices helped to limit the Canadian dollar’s upside potential.
Canadian bonds closed higher Thursday, continuing to follow the strength seen in bond markets in other parts of the world, brokers said.
The two-year bond yielded 1.039% late Thursday, from 1.044% late Wednesday. The 10-year bond yielded 2.260%, from 2.289%. Bond yields fall as their prices rise.
