Canadian dollar clings to prior day's gains as equity markets rise

The Canadian dollar CADUSD was unchanged against its U.S. counterpart on Friday, with the currency holding on to its prior day's gains as global equity markets rose and despite domestic data showing factory sales fell for a fourth straight month. Stocks rose and bond yields fell amid speculation of a British government U-turn on fiscal plans that have contributed to financial market volatility in recent weeks. Canadian Prime Minister Justin Trudeau's government should avoid new stimulus when it updates its fiscal plans this fall and focus instead on paying down debt as governments around the world face greater scrutiny managing…