Canadian Forex Review: C$ Weakens

By Commodity News Service Canada

Winnipeg – January 8/13 – CNS – The Canadian dollar was
trading at a weaker level versus the US currency in late North
American activity on Tuesday. Much of the downswing in the value
of the Canadian unit was associated with investors unwilling to
hold onto risky assets, market watchers said.

The Canadian currency late in the afternoon was quoted at
C$0.9867 (101.34 US cents). This compares with Monday’s late
North American quote of C$0.9859 (101.43 US cents).

Soft employment data from the Euro-zone had participants
less willing to take on riskier assets, including the Canadian
dollar. The unemployment rate in the Euro-zone climbed to a
record high 11.8% in December, from 11.7% in November.

The weakness in the Canadian unit was also linked to early
declines in global crude oil and to the general weakness
displayed by the North American equity sector, analysts said.

There was no significant economic data released in Canada on
Tuesday.

Canadian bonds finished with advances across the yield curve
on Tuesday as cautious investors moved back into safer assets,
reversing the steady decline in the fixed-income market seen over
the past week, market watchers said.

Canada’s two-year bond yield is at 1.166% Tuesday, from

There were no major economic indicators out on Tuesday,
leaving the Canadian bond market to move in response to equity
markets.
END

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