By Commodity News Service Canada
Winnipeg, August 14 – The Canadian dollar record some modest losses against its US counterpart Friday, weighed down by disappointing Canadian factory sales data.
At 4:00 CDT Friday, the loonie was at US$0.7637 or US$1 = C$1.3094.
Internationally, currencies around the world stabilized as China refrained from adjusting the yuan.
Already, there is speculation it could impact the US Federal Reserve’s decision on whether or not to hike interest rates.
Losses in oil and gold also weighed on the loonie.
Canadian bonds eked out gains to end the week despite tepid manufacturing data. They instead reacted positively to U.S. economic information that supported the case for tighter Federal Reserve policy.
Canada’s two-year bond yield was at 0.411% Friday, up from 0.416% late Thursday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.392%, up from 1.401%. Bond yields move inversely to prices.
