By Commodity News Service Canada
WINNIPEG, Dec. 2 The Canadian dollar was sharply lower relative to the US dollar Tuesday morning, with weakening crude oil values behind the declines, analysts said.
At 8:58 CDT Tuesday the Canadian dollar was at U.S.$0.8762 or U.S.$=C$1.1413, which compares with Monday’s North American close of U.S.$0.8828 or U.S.$=C$1.1328.
Softness in gold values Tuesday morning was also weighing on the Canadian dollar, as were concerns about slow economic growth in China.
There was no significant Canadian economic news out Tuesday morning. Traders were looking ahead to the next interest rate announcement from the Bank of Canada on Wednesday.
The TSX was down 1.43 points, or 0.01%, at 8:58 CDT Tuesday morning to sit at 14,623.89.
