By Commodity News Service Canada
Winnipeg, May 6 – The Canadian dollar was up slightly against its US counterpart at midday Tuesday, on forecasts Canadian economic growth will rise to 2.75 per cent by 2015.
The analysis comes from The Organization for Economic Co-operation and Development. The internationally-renowned think-tank says the global economy will grow by 3.4 per cent this year, slightly down from its forecast of 3.6 per cent in November.
The tech sector marked a slight decline which was bearish.
The June crude oil contract gained 24 cents to US$99.72 a barrel which was bullish.
At 11:50 CDT Tuesday, the Canadian dollar was trading at US$0.9190 or US$1.1088, which compares with Monday’s North American close of US$0.9131, or US$=$1.0952.
At 11:50 CDT Tuesday, the Toronto Stock Exchange was down 61.98 points to sit at 14,635.05.
