By Commodity News Service Canada
WINNIPEG, August 14 – The Canadian dollar was stronger relative to the US dollar on Thursday, as traders expect Statistics Canada to up July employment figures in their revised data set to be released on Friday, analysts said.
Statistics Canada announced there was an error in the employment data reported last week, which showed only 200 new jobs were created in July.
The Canadian dollar closed at US$0.9172 or US$1=C$1.0903 on Thursday, which compares with Wednesday’s North American settlement of US$0.9160 or US$1=C$1.0917.
General weakness in the value of the US dollar was also helping to underpin the Canadian currency, according to brokers.
However, spillover pressure from the declines seen in commodity prices, including crude oil, gold, and copper, was bearish for the Canadian dollar.
Canadian bonds ended higher Thursday, following other global bond markets amid weak European and US economic data, brokers said.
The two-year bond yielded 1.065% late Thursday, from 1.070% late Wednesday. The 10-year bond yielded 2.056%, from 2.075%. Bond yields fall as their prices rise.
