By Commodity News Service Canada
WINNIPEG, Dec. 4 – The Canadian dollar ended slightly softer relative to the US dollar after a day of choppy activity on Thursday, as the market consolidated following recent sharp losses, analysts.
The Canadian dollar closed at US$0.8791 or US$1=C$1.1375 on Thursday, which compares with Wednesday’s North American settlement of US$0.8798 or US$1=C$1.1366.
Crude oil values moved lower on Thursday, which was bearish for the loonie. Weak gold prices and ongoing worries about slow global economic growth were also weighing on the currency.
However, Wednesday’s positive messaging from the Bank of Canada was supportive. They noted the Canadian economy looks to be staging an economic recovery.
Canadian bonds closed higher on Thursday, lifted by a spark in safe-haven purchases due to worries about slow economic growth in Europe, brokers said.
The two-year bond yielded 1.017% late Thursday, from 1.027% late Wednesday. The 10-year bond yielded 1.913%, from 1.943%. Bond yields fall as their prices rise.
