By Commodity News Service Canada
WINNIPEG, June 5 – The Canadian dollar ended firmer relative to the US dollar on Thursday, seeing a recovery following recent losses, analysts said.
The Canadian dollar closed at US$0.9150 or US$1=C$1.0929 on Thursday, which compares with Wednesday’s North American settlement of US$0.9142 or US$1=C$1.0939.
A move by the European Central Bank to stimulate the economy, as they cut interest rates to 0.15 per cent from 0.25 per cent, was also supportive.
However, Wednesday’s dovish Bank of Canada announcement was bearish, as was spillover from the weakness seen in crude oil prices.
Traders were also looking ahead to as Canadian and US employment figures on Friday.
Canadian bonds closed slightly higher, following the same action seen in US fixed income markets, industry officials said.
The two-year bond yielded 1.060% late Thursday, from 1.064% late Wednesday. The 10-year bond yielded 2.328%, from 2.350%. Bond yields fall as their prices rise.
