By Commodity News Service Canada
WINNIPEG, April 21 – The Canadian dollar was weaker Tuesday morning, as some disappointing domestic economic data weighed on the currency.
At 9:01 CDT Tuesday morning the Canadian dollar was at US$0.8142 or C$1.2282 which compares with Monday’s North American close of US$0.8177, or C$1.2230.
Canada’s wholesale trade declined by 0.4% in February, to C$53.62 billion, according to Statistics Canada data. Average pre-report estimates had been calling for a slight increase, and the surprising drop weighed on the Canadian dollar.
Losses in crude oil also put some spillover pressure on the energy-linked Canadian currency.
The Federal budget will be released later in the day, which could provide some direction for the financial markets.
The TSX was lower in early activity, down 18.01 points at 9:01 CDT to sit at 15,394.59.
