By Commodity News Service Canada
WINNIPEG, April 6 – The Canadian dollar was firmer relative to the US dollar on Monday, reacting to disappointing US employment data, which was release on Good Friday, April 3.
The US government said 126,000 new jobs were created in March, the lowest amount seen in the past 12 months.
The Canadian dollar closed at US$0.8014 or US$1=C$1.2478 on Monday, which compares with Thursday’s North American settlement of US$0.7959 or US$1=C$1.2564. Markets were closed for Good Friday on April 3.
Further support came from strength in commodity prices, including a rally in crude oil values that saw prices test the $52 per barrel mark.
Canadian bonds ended lower on Monday, following the weakness seen in the US Treasury market, according to participants.
The two-year bond yielded 0.502% Monday, from 0.495% late Thursday. The 10-year bond yield was at 1.352%, from 1.315%. Bond yields rise as their prices fall.
