By MarketsFarm
WINNIPEG, Oct. 13 (MarketsFarm) – The Canadian dollar was holding steady Tuesday morning, lacking any clear direction as currency market saw some stability to start the week.
At 8:49 CDT Tuesday morning the Canadian dollar was at US$0.7612 or C$1.3137 which was down from Friday’s North American close of US$0.7613 or C$1.3136. Canadian markets were closed Monday for Thanksgiving.
Better-than-expected Chinese trade data, showing a sharp increase in both exports and imports for September, provided some underlying support for world markets on Tuesday. Gains in crude oil were also supportive for the energy-linked Canadian currency.
However, news that Johnson & Johnson were pausing a clinical trial into a COVID-19 vaccine raised some concerns, as one study participant reportedly contracted an unexplained illness.
West Texas Intermediate crude oil was up 1.5 per cent in early activity, at US$40.04 per barrel.
The TSX was down by 59.64 points at 8:49 CDT to trade at 16,503.17 points.
