By Commodity News Service Canada
WINNIPEG, March 24 – The Canadian dollar was holding steady against the US dollar on Tuesday, seeing a consolidation following Monday’s rally, analysts said.
The Canadian dollar closed at US$0.7999 or US$1=C$1.2501 on Tuesday, which compares with Monday’s North American settlement of US$0.8001 or US$1=C$1.2499.
A lack of fresh market moving economic news also kept the currency within a narrow trading range on Tuesday, as did a flat tone in crude oil values.
Traders were looking ahead to Thursday, when a speech by Bank of Canada governor Stephen Poloz is expected to provide some direction for the market.
Canadian bonds ended mixed on Tuesday. Longer maturities moved higher along with the US Treasury market, according to brokers.
The two-year bond yielded 0.464% Tuesday, from 0.455% late Monday. The 10-year bond yielded 1.300%, from 1.308%. Bond yields rise as their prices fall.
