By MarketsFarm
WINNIPEG, April 19 (MarketsFarm) – The Canadian dollar was softer Tuesday morning, as early weakness in crude oil put some pressure on the energy-linked currency.
At 8:35 a.m. CDT Monday morning the Canadian dollar was at US$0.7913 or US$1=C$1.2637, which compares with Monday’s close of US$0.7925 or US$1=C$1.2618.
Canadian investors reduced their holdings of foreign securities by C$9.7 billion in February, while foreign investors acquired C$7.4 billion of Canadian securities, according to a report from Statistics Canada. As a result, the flow of international transactions resulted in a net inflow of C$17.1 billion into the Canadian economy.
Crude oil was thought to be due for a correction after recent gains, with West Texas Intermediate down by 3.1 per cent at US$104.26 per barrel.
The TSX was weaker, down 30.07 points at 8:35 CDT, trading at 21,848.69 points.
