By MarketsFarm
WINNIPEG, July 19 (MarketsFarm) – The Canadian dollar was holding relatively steady Tuesday morning, lacking any clear direction in early activity. A generally weaker tone in the United States dollar internationally provided some support, although losses in crude oil put some pressure on the energy-linked currency.
At 8:35 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7730 or US$1=C$1.2937, which compares with Monday’s close of US$0.7723 or US$1=C$1.2948.
After posting five per cent gains on Monday, crude oil was thought to be due for a correction. West Texas Intermediate crude oil was down by 2.1 per cent in early activity at US$97.36 per barrel. Liquidity in the energy market was described as thin.
The TSX was stronger, up 129.06 points at 8:35 CDT, trading at 18,724.68 points.
