CANADA FX DEBT-Canadian dollar rises to five-month high despite downbeat factory sales
The Canadian dollar rose to a five-month high against the U.S. dollar, supported by strong commodity prices, despite a 1.1% decline in factory sales in November. The loonie gained 0.1%, trading at 1.3672 per U.S. dollar. Factors such as a softer USD, narrower US/Canada yield spreads, and positive economic data surprises contributed to the CAD's strength. Oil prices, a key Canadian export, also increased. Canadian bond yields fell slightly, with the 10-year yield down to 3.408%.
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