By MarketsFarm
WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning, as firmness in crude oil and gains in world equity markets provided support.
At 8:47 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7784 or US$1=C$1.2847, which compares with Monday’s close of US$0.7759 or US$1=C$1.2888.
Foreign investors acquired C$46.9 billion of Canadian securities in March while Canadians reduced their holdings of foreign securities by C$24.0 billion, according to a report from Statistics Canada. The resulting net inflow of C$70.9 billion into the country’s economy during the month was a new record, with the C$119.7 billion inflow during the first quarter the largest ever recorded.
Crude oil was posting small gains. West Texas Intermediate was up by 0.3 per cent at US$114.56 per barrel.
The TSX was stronger, up 236.85 points at 8:47 CDT, trading at 20,443.26 points.
