By Commodity News Service Canada
WINNIPEG, September 18 – The Canadian dollar closed stronger against the US dollar on Thursday, finding support from disappointing US housing starts and building permits data, analysts said.
The Canadian dollar closed at US$0.9135 or US$1=C$1.0947 on Thursday, which compares with Wednesday’s North American settlement of US$0.9088 or US$1=C$1.1004.
Some of the buying was also linked to positive Canadian investment data. Statistics Canada said Canadian investors added C$9.7 billion of foreign securities in July, the largest such investment since April 2007. Foreign investors acquired C$5.3 billion of Canadian securities during the month, the government agency also noted.
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However, spillover pressure from the weakness seen in commodity prices, including crude oil, gold and copper, limited the upside.
Traders continued to watch Scotland closely, as they vote on whether or not to separate from the United Kingdom on Thursday, with results expected Friday morning in Scotland (Thursday evening in North America).
Canadian bonds ended lower on Thursday, as traders were waiting for Canadian inflation data to be released on Friday, brokers said.
The two-year bond yielded 1.172% late Thursday, from 1.165% late Wednesday. The 10-year bond yielded 2.287%, from 2.263%. Bond yields fall as their prices rise.
