By Commodity News Service Canada
Winnipeg, Oct. 30 – Canadian dollar settled relatively steady on Thursday, as the currency market showed little reaction to updated GDP data out of the US.
The Canadian currency late in the afternoon was quoted at US$0.8932 or US$1=C$1.1196. This compares with Wednesday’s North American close of US$0.8936, or US$=C$1.1191.
The US gross domestic product increased at 3.5% annualized rate in the past quarter, which was above analyst expectations that had been calling for growth closer to 3.0%. However, beyond the headline number, analysts said the details of the US data were on the soft side and indicated that the pace of expansion was slowing down in the country.
Canadian GDP data will be released on Friday.
Canadian bonds were higher on Thursday, finding some spillover support from advances in the US Treasurys.
