By Commodity News Service Canada
WINNIPEG, Nov. 20 – The Canadian dollar ended stronger relative to the US dollar on Thursday, finding support from positive Canadian sales data, analysts said.
Statistics Canada reported wholesale sales rose 1.8 per cent to C$54 billion in September.
The Canadian dollar closed at US$0.8845 or US$1=C$1.1306 on Thursday, which compares with Wednesday’s North American settlement of US$0.8810 or US$1=C$1.1351.
A sharp rise in crude oil values was also underpinning the Canadian currency, though disappointing economic news out of China and Europe was bearish.
Traders were looking ahead to Friday’s Canadian consumer price index data, to be released in the morning by Statistics Canada.
Canadian bonds closed higher on Thursday, following the US Treasury market, which was reacting to the disappointing Chinese and European economic news, brokers said.
The two-year bond yielded 1.048% late Thursday, from 1.063% late Wednesday. The 10-year bond yielded 2.019%, from 2.036%. Bond yields fall as their prices rise.
