By Commodity News Service Canada
WINNIPEG, Feb. 27 The Canadian dollar was firmer relative to the US dollar Friday morning, following the advances seen in crude oil values, analysts said.
At 9:00 CST Friday, the Canadian dollar was at US$0.8007 or US$=C$1.2489, which compares with Thursday’s North American close of US$0.7983 or US$1=C$1.2527.
General weakness in the US dollar and easing worries about the Bank of Canada making further interest rate cuts were also bullish. The bank’s governor, Stephen Poloz, is expected to make an interest rate announcement on Wednesday, March 4.
Some support also came from Thursday’s slightly better than expected domestic inflation data, though worries about global economic problems continued to overhang the currency.
The TSX was up 44.01 points, or 0.29%, at 9:00 CST Friday morning to sit at 15,285.17.
