By Commodity News Service Canada
Winnipeg, Nov. 14 – The Canadian dollar was stronger on Friday, as strong manufacturing data and gains in crude oil supported the currency.
The Canadian currency late in the afternoon was quoted at US$0.8868 or US$1=C$1.1277. This compares with Thursday’s North American close of US$0.8790, or US$=C$1.1376.
Canadian manufacturing sales increased by 2.1% to C$53 billion in September, according to Statistics Canada data. The growth beat market expectations and came after a 3.5% decline the previous month.
Crude oil rose by US$1.70 per barrel, which helped underpin the energy-linked Canadian dollar. Gold and other commodities were also higher.
Canadian bonds were mostly higher on Friday, but lagged the US Treasurys to the upside due to the favourable domestic manufacturing data.
