By Commodity News Service Canada
Winnipeg, May 22 (CNS Canada) – The Canadian dollar was sharply
higher against its U.S. counterpart Tuesday morning, taking strength
from new data that showed Canada’s wholesale trade sector rose 1.1
per cent in March. The pace was faster than what most analysts were
expecting. Transactions jumped in March to an adjusted basis level
of C$62.83 billion.
The loonie was bolstered by advances in gold bullion, crude oil
and natural gas.
At 9:10 CDT Tuesday morning the Canadian dollar was at US$0.7843
or C$1.2750 which compares with Friday’s North American close of
US$0.7761 or C$1.2901.
At 9:08 CDT Tuesday morning, the TSX was up 47.01 points, or
0.29%, at 16,209.32. Canadian markets were closed Monday for Victoria
Day.
