By MarketsFarm
WINNIPEG, April 30 (MarketsFarm) The Canadian dollar was holding steady Tuesday morning, as the currency saw a muted reaction to the latest domestic inflation data.
At 8:54 CDT Tuesday morning the Canadian dollar was at US$0.7435 or C$1.3450 which compares with Monday’s North American close of US$0.7432 or C$1.3456.
Statistics Canada reported that the country’s gross domestic product declined by 0.1 per cent in February, which compares with the 0.3 per cent growth reported the previous month.
In other domestic data, Canada’s Industrial Product Price Index was up 1.3 per cent in March, while the Raw Materials Price Index increased by 2.8 per cent on a monthly basis.
Crude oil was stronger in early activity, providing some support for the Canadian dollar.
The TSX was steady Tuesday, up only 0.25 points at 8:54 CDT to sit at 16,600.62.
