By Commodity News Service Canada
WINNIPEG, Oct. 20 The Canadian dollar was holding steady relative to the U.S. dollar Monday morning, finding some support from positive Canadian sales data, analysts said.
Statistics Canada said Canadian wholesale sales were up 0.2 per cent to C$53.1 billion in August.
At 8:58 CDT Monday the Canadian dollar was at U.S.$0.8869 or U.S.$=C$1.1275, which compares with Friday’s North American close of U.S.$0.8868 or U.S.$=C$1.1277.
Spillover support for the Canadian currency also came from the advances seen in gold and crude oil prices Monday morning, brokers said.
Traders were being cautious ahead of Wednesday, when the Bank of Canada will make its latest interest rate announcement. Wednesday will also mark August retail sales data from Statistics Canada.
The TSX was up 5.18 points, or 0.04%, at 8:58 CDT Monday morning to sit at 14,232.86.
