By Commodity News Service Canada
WINNIPEG, Oct. 20 – The Canadian dollar eased slightly relative to the US dollar on Monday after a day quiet activity.
Traders were waiting for direction from the Bank of Canada’s next interest rate announcement, set for Wednesday, October 22, analysts said.
The Canadian dollar closed at US$0.8862 or US$1=C$1.1284 on Monday, which compares with Friday’s North American settlement of US$0.8868 or US$1=C$1.1277.
The Canadian currency only saw minimal declines relative to the US dollar, as strength in commodities and positive Canadian economic data were supportive.
Statistics Canada said Canadian wholesale sales were up 0.2 per cent to C$53.1 billion in August. The next notable StatsCan report is on Wednesday, when retail sales figures will be released.
Canadian bonds were mixed on Monday, consolidating after last week’s volatile activity in global markets, participants said.
The two-year bond yielded 0.964% late Monday, from 0.976% late Friday. The 10-year bond yielded 1.933%, from 1.950%. Bond yields fall as their prices rise.
