Canadian dollar weakens, benchmark yield slips
TLT•The Canadian dollar fell 0.2% to C$1.412 per U.S. dollar, while the Canadian 10-year government bond yield slipped 0.8 basis points to 3.946%; August retail sales fell 0.7%.
1. Currency and bond yields
The Canadian dollar weakened against the U.S. dollar on Thursday, trading 0.2% lower at C$1.412, or 70.82 U.S. cents. It traded in a range of C$1.409 to C$1.4124. The Canadian 10-year government bond yield fell 0.8 basis points to 3.946%, while the yield on similar U.S. debt fell to 5.1039%.
2. Retail sales and crude
Canadian retail sales fell 0.7% in August from July, compared with analysts’ forecast for a 0.8% decline. Sales excluding autos also fell 0.7%; analysts had forecast a 0.5% drop. U.S. November crude futures rose $1.78 to $93.94 a barrel.
