By Commodity News Service Canada
WINNIPEG, March 31 The Canadian dollar moved lower against the US dollar Tuesday morning, as the crude oil market continued to fall, analysts said.
At 8:43 CDT Tuesday, the Canadian dollar was at US$0.7860 or US$=C$1.2723, which compares with Monday’s North American close of US$0.7878 or US$1=C$1.2693.
Ongoing worries about the negative effects low oil prices are having on Canada’s economy were also overhanging the Canadian dollar.
January gross domestic product (GDP) figures were on the soft side, as the GDP fell 0.1 per cent during the month, Statistics Canada said. But, the data was slightly better than expectations calling for a 0.2 per cent drop.
The TSX was up 95.97 points, or 0.65%, at 8:43 CDT Tuesday morning to sit at 14,908.39.
