By Commodity News Service Canada
Winnipeg, July 4 – The Canadian dollar closed lower on Friday as trading was quiet due to U.S. markets being closed for the Independence Day holiday.
The Canadian dollar settled at US$0.9384 or US$1 = C$1.0639, down 0.15 of a cent from yesterday’s close.
This was following a rise of 0.24 cents US on Thursday, in wake of a higher than expected U.S. employment report and other data indicating Canada’s trade deficit with the world narrowed in May.
The positive U.S. employment data encouraged ideas that the American economy will rebound significantly after severe winter weather had pushed the economy into contraction in the first-quarter. Canadian employment data will be released on July 11.
Canadian bonds ended slightly lower on Friday due to the robust U.S. employment data and subdued trading on the July 4 holiday.
