By Commodity News Service Canada
WINNIPEG, August 13 – The Canadian dollar was slightly firmer against the US dollar on Wednesday, as traders awaited revised Canadian employment data for July that will be released on Friday, analysts said.
Statistics Canada announced there was an error in the jobs data reported last week, which showed only 200 new jobs were created in July. Expectations call for the government agency to say more than 200 jobs were created, which was supportive for the Canadian dollar.
The Canadian dollar closed at US$0.9160 or US$1=C$1.0917 on Wednesday, which compares with Tuesday’s North American settlement of US$0.9156 or US$1=C$1.0922.
Disappointing US retail sales data was also bullish, as it created general weakness in the value of the US currency, market watchers said.
Canadian bonds ended higher reacting to the disappointing US retail sales data and strength in outside global bond markets, traders said.
The two-year bond yielded 1.069% late Wednesday, from 1.086% late Tuesday. The 10-year bond yielded 2.069%, from 2.114%. Bond yields fall as their prices rise.
