By MarketsFarm
WINNIPEG, June 10 (MarketsFarm) – The Canadian dollar was holding relatively steady Monday morning, seeing some consolidation to start the week after hitting three-month highs on Friday.
At 9:03 CDT Monday morning the Canadian dollar was at US$0.7539 or C$1.3264 which compares with Friday’s North American close of US$0.7528 or C$1.3283.
News that Mexico and the United States had reached a tentative deal on immigration, averting U.S. threats to impose tariffs on Mexican imports was somewhat supportive. The U.S. Mexico deal should help the two countries, along with Canada, move forward with ratifying a new North American trade agreement.
Friday’s better-than-expected Canadian jobs data remained supportive for the currency.
Canadian housing starts declined to a seasonally adjusted annual rate of 202,300 units in May, according to a report from the Canada Mortgage and Housing Corporation. The housing starts came in slightly below market expectations and compare with the revised April level of 233,400.
The TSX was weaker Monday morning, down 11.61 points at 9:03 CDT to sit at 16,219.35.
