By Commodity News Service Canada
WINNIPEG, Oct. 2 – The Canadian dollar was slightly higher relative to the US dollar on Thursday, continuing to see an upward correction following a recent sharp drop, analysts said.
The Canadian dollar closed at US$0.8958 or US$1=C$1.1163 on Thursday, which compares with Wednesday’s North American settlement of US$0.8951 or US$1=C$1.1172.
Some spillover support came from the advances in crude oil prices, though weakness in gold and copper weighed on the loonie.
Traders were looking ahead to Friday’s US employment data, which is expected to show a strong newly created jobs figure.
Canadian bonds ended lower on Thursday, following the US Treasury market as traders were evening positions ahead of Friday’s US nonfarm payrolls data, participants said.
The two-year bond yielded 1.119% late Thursday, from 1.115% late Wednesday. The 10-year bond yielded 2.097%, from 2.076%. Bond yields fall as their prices rise.
