By Commodity News Service Canada
Winnipeg, May 12 – The Canadian dollar rose against its US counterpart Monday morning on sideways trading as traders waited for a number of key economic and central bank releases, said analysts.
US retail sales data is due out tomorrow while Statistics Canada is scheduled to release its March report on manufacturing shipments Thursday.
The June gold contract added $9 to US$ 1,296.60 which was bullish.
The base metals sector rose on speculation the Chinese government is preparing to take steps to support the market.
At 8:50 CDT Monday, the Canadian dollar was at US$0.9189 or US$=C$1.0883 which compares with Friday’s North American close of US $0.9178, or US$=C$1.0896.
The TSX was up 58.08 points Monday morning at 8:50 CDT, to sit at 14,592.14.
