By Commodity News Service Canada
Winnipeg, March 25 – The Canadian dollar firmed against the US dollar at 11:54 CDT Tuesday, lifted by disappointing US economic data, analysts said.
Sales of new homes in the US dropped by 3.3 per cent in February, likely due to the unusually cold weather seen this winter, reports show.
At 11:54 CDT Tuesday, the Canadian dollar was trading at US$0.8954, or US$1=C$1.1168, which compares with Monday’s North American close of US$0.8933, or US$=C$1.1195.
Spillover support for the Canadian dollar also came from the firmer tone seen in commodity prices, including crude oil, gold and copper.
The Toronto Stock Exchange was up 18.38 points, or 0.13%, at 11:54 CDT Tuesday, to sit at 14,296.93.
