By Commodity News Service Canada
Winnipeg, May 20 – The Canadian dollar was lower against its US counterpart Tuesday morning on data showing lower wholesale sales in March.
According to Statistics Canada, Canadian wholesales sales dropped 0.4% to C$50.5 billion in the month of March. Motor vehicles and parts led the decline.
The June crude oil contract fell 14 cents to US$102.47 a barrel, which was bearish. June bullion faded $5.60 cents to US$1,288.20 an ounce, which was also bearish.
At 8:45 CDT Tuesday, the Canadian dollar was at US$0.9173 or US$=C$1.0901 which compares with Friday’s North American close of US $0.9211, or US$=C$1.0857. Canadian markets were closed Monday due to Victoria Day.
The TSX was up 10.56 points Tuesday morning at 8:45 CDT, to sit at 14,525.62.
