By Commodity News Service Canada
Winnipeg, April 14 – The Canadian dollar was higher against its American counterpart Tuesday morning, after a report came out showing Canadian home prices were on the rise.
At 8:50 CDT Tuesday morning, the loonie was up 0.0073 of a cent to US$0.8015 or US$1 = C$1.2477. The Teranet-National Bank Composite House Price Index showed national home prices rose 0.3 percent last month from February. Prices also rose 4.7 percent from the year previous.
An analyst says crude oil prices could rise quickly in the second half of 2015 and potentially reach US$70 a barrel by Christmas. The U.S. Energy Information Administration expects US shale production to drop off drastically in May.
Shaw Communications reported a smaller Q2 profit on Tuesday. The Calgary-based telecom and media company says it recorded $38 million of expenses related to severance and employee-related costs for about 1,600 affected employees.
On the commodity markets the May crude contract in New York rose US$0.82 to US$52.73 a barrel. The April gold contract dipped $5.80 to US$1,193.00 an ounce.
At 8:50 CDT Tuesday morning, the TSX was down 1.79 points to 15,381.91.
