By Commodity News Service Canada
WINNIPEG, April 10 The Canadian dollar was weaker Thursday morning, seeing a modest correction following recent gains relative to its US counterpart.
At 9:04 CDT Monday morning the Canadian dollar was at US$0.9166 or C$1.0910 which compares with Wednesday’s North American close of US$0.9198, or C$1.0872.
Chinese trade data released overnight was on the soft side, which put some spillover pressure on the Canadian currency, according to analysts. China’s exports were down 6.6% compared to the same point a year ago, surprising analysts who had generally anticipated to see a small increase.
In domestic economic data, Canadian new home prices rose 0.2% in February, compared to the previous month, reported Statistics Canada. On a yearly basis, house prices were up 1.5%.
The TSX was weaker Thursday morning, down 15.19 points at 9:05 CDT to sit at 14,420.39.
