By Commodity News Service Canada
Winnipeg – January 7/13 – CNS – The Canadian dollar was
trading at a firmer level versus the US currency in late North
American activity on Monday. The upward swing in the value of the
Canadian dollar came amid a better than anticipated reading on
Canadian purchasing activity during December, market watchers
said.
The Canadian currency late in the afternoon was quoted at
C$0.9857 (101.45 US cents). This compares with Friday’s late
North American quote of C$0.9873 (101.28 US cents).
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Glacier FarmMedia — The Canadian dollar was slightly firmer on Tuesday as currency markets reacted to the latest inflation data…
The index was the only economic indicator released in North America on Monday. It helped to provide some direction in an
otherwise quiet day in the currency markets, although there was
also some lingering influence from robust US and Canadian
December jobs data released Friday, brokers said.
Some of the strength in the Canadian dollar was also linked to reports that the European Central Bank might be considering cutting interest rates to help the economy. This news had more investors willing to take on risk, including the Canadian unit.
The upside in the Canadian currency was tempered by the
No major economic indicators set to be released this week, but analysts will be waiting for announcements from the Bank of England and European Central Bank for influence in the currency sector.
Canadian bonds ended on the defensive across most of the
yield curve on Monday as investors reacted to a positive reading
of Canadian purchasing activity and incoming supply later in the
week weighed on the broader fixed-income market.
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