By MarketsFarm
WINNIPEG, July 19 (MarketsFarm) – The Canadian dollar was slightly firmer Wednesday morning, as gains in crude oil and equity markets provided some support.
At 8:55 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7593 or US$1=C$1.3170, which compares with Tuesday’s close of US$0.7582 or US$1=C$1.3190.
Investment in building construction in Canada declined by 1.2 per cent in May, hitting C$19.9 billion, according to a report from Statistics Canada. The residential sector was down by 1.7 per cent at C$14.0 billion while the non-residential sector held steady at C$5.9 billion.
Crude oil was underpinned by economic optimism out of China and ideas that the U.S. Federal Reserve will soon be stopping interest rate hikes, with West Texas Intermediate up by 0.77 per cent at US$76.33 per barrel.
The TSX was stronger, gaining 65.86 points at 8:55 CDT, trading at 20,443.54 points.
