By Commodity News Service Canada
WINNIPEG, June 9 – The Canadian dollar ended stronger relative to the US dollar on Monday, as positive global economic news had traders more willing to take on riskier assets, including the loonie, analysts said.
The Canadian dollar closed at US$0.9168 or US$1=C$1.0908 on Monday, which compares with Friday’s North American settlement of US$0.9149 or US$1=C$1.0930.
Better than expected Canadian housing starts data was also supportive. Canada Mortgage and Housing Corp. said housing starts increased to an annual pace of 198,324 in May, up from 196,687 in April and expectations calling for 185,000.
Further spillover support came from the gains seen in commodity prices, including crude oil and gold values, traders said.
Canadian bonds closed slightly lower on Monday, following the declines seen in the US Treasury market, industry watchers said.
The two-year bond yielded 1.070% late Monday, from 1.061% late Friday. The 10-year bond yielded 2.326%, from 2.320%. Bond yields fall as their prices rise.
