By MarketsFarm
WINNIPEG, Feb. 15 (MarketsFarm) – The Canadian dollar was showing some firmness Tuesday morning amid easing tensions between Russia and Ukraine. While the situation is still uncertain, reports that some Russian military units were backing away from the Ukrainian border were enough to bring some risk appetite back to the global financial markets.
At 8:41 a.m. CST Tuesday morning the Canadian dollar was at US$0.7857 or US$1=C$1.2728, which compares with Monday’s close of US$0.7851 or US$1=C$1.2738.
In domestic data, Canadian housing starts were down by three per cent in January compared to the previous month, according to a report from the Canada Mortgage and Housing Corporation.
A move by the Canadian government to impose emergency measures in order to deal with ongoing protests in Ottawa and elsewhere was being followed closely.
Crude oil was softer to start the day, pressured by the easing Russia/Ukraine tensions. West Texas Intermediate was down by 3.89 per cent at US$91.75 per barrel.
The TSX was higher, up 91.21 points at 8:41 CST, trading at 21,443.72 points.
