By MarketsFarm
WINNIPEG, May 16 (MarketsFarm) – The Canadian dollar was holding relatively steady Monday morning, slightly firmer compared to Friday’s close but down from levels seen in overnight trade.
At 8:48 a.m. CDT Monday morning the Canadian dollar was at US$0.7737 or US$1=C$1.2925, which compares with Friday’s close of US$0.7720 or US$1=C$1.2953.
Canadian manufacturing sales were up by 2.5 per cent in March, hitting C$70.2 billion, according to a report from Statistics Canada. Sales were up in 16 of 21 industries, with the biggest gains in the petroleum and coal – at 9.1 per cent.
Also, the federal agency said wholesale sales were up by 0.3 per cent in March to C$79.8 billion, marking the seventh increase of the past eight months.
Canadian housing starts hit 267,300 units in April, up from a revised 248,400 units in March, according to a report from the Canadian Mortgage and Housing Corporation.
Crude oil was slightly softer to start the week. West Texas Intermediate was down by 0.3 per cent at US$110.14 per barrel.
The TSX was stronger, up 47.32 points at 8:48 CDT, trading at 20,147.13 points.
