By Commodity News Service Canada
WINNIPEG, April 10 – The Canadian dollar was slightly firmer against the US dollar on Friday, seeing some short covering ahead of the weekend as crude oil values rose, analysts said.
The Canadian dollar closed at US$0.7949 or US$1=C$1.2580 on Friday, which compares with Thursday’s North American settlement of US$0.7942 or US$1=C$1.2592.
Mostly positive Canadian employment data was also supportive. According to Statistics Canada, 29,000 new jobs were created in March, while the unemployment rate remained unchanged at 6.8 per cent. Pre-report guesses called for jobs to remain steady compared to February.
Though, some traders interpreted the employment report as bearish, as the net gain was due to an increase in part-time jobs, while full time employment declined, brokers added.
Canadian bonds ended slightly lower on Thursday, with the mostly positive Canadian employment data behind the declines, traders said.
The two-year bond yielded 0.524% Friday, from 0.512% late Thursday. The 10-year bond yield was at 1.371%, unchanged from late Thursday. Bond yields rise as their prices fall.
