By Commodity News Service Canada
Winnipeg, April 1 – The Canadian dollar continued to strengthen against its US counterpart at midday Tuesday, after a report on Canadian manufacturing from the Royal Bank said manufacturers reported a welcome recovery in new order volumes.
The RBC Canadian Manufacturing Purchasing Managers Index registered 53.3 in March. This marks the 12th consecutive month it has seen an expansion.
Reports indicate the Bank of Canada has purchased C$500 million worth of bonds in a cash management buy-back.
At 11:45 CDT Tuesday, the Canadian dollar was trading at US$0.9074 or US$1.1020, which compares with Monday’s North American close of US$0.9046, or US$=$1.1055.
At 11:45 CDT Tuesday, the Toronto Stock Exchange was up 20.48 points to sit at 14,355.79.
