Canadian dollar strengthens, benchmark yield slips
TLT•The Canadian dollar rose 0.3% to C$1.419 per U.S. dollar, while Canadian 10-year government bond yields fell 4.6 basis points to 3.832%. Canadian factory sales increased 1.5% in August, above analysts’ 1.1% estimate.
1. Currency and bond moves
The Canadian dollar strengthened against the U.S. dollar on Thursday, trading at C$1.419, or 70.47 U.S. cents, after ranging from C$1.4171 to C$1.4239. Canadian 10-year government bond yields slipped 4.6 basis points to 3.832%; comparable U.S. yields fell to 5.0871%.
2. Factory sales rise
Canadian factory sales rose 1.5% in August from the previous month, Statistics Canada said. Analysts had expected growth of 1.1%. U.S. November crude futures rose $2.88 to settle at $97.97 a barrel on Thursday.
