By Commodity News Service Canada
WINNIPEG, July 21 – The Canadian dollar moved slightly higher relative to the US dollar on Monday, lifted by spillover support from the gains seen in gold and crude oil prices, analysts said.
The Canadian dollar closed at US$0.9320 or US$1=C$1.0730 on Monday, which compares with Friday’s North American settlement of US$0.9314 or US$1=C$1.0736.
The loonie’s upside was limited by ongoing worries about the political situation in Ukraine after last week’s plane accident, as well as concerns about problems between Israel and Gaza.
There was no significant Canadian economic data released on Monday. There aren’t many reports out this week, with only retail sales figures due out on Wednesday.
Canadian bonds closed mixed, consolidating after seeing large moves last week after the plane crash in Ukraine, market watchers said.
The two-year bond yielded 1.085% late Monday, from 1.079% late Friday. The 10-year bond yielded 2.136%, from 2.137%. Bond yields fall as their prices rise.
