By MarketsFarm
WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar was holding relatively steady Wednesday morning, seeing some consolidation after Tuesday’s gains.
At 8:42 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7425 or US$1=C$1.3468, which compares with Tuesday’s close of US$0.7432 or US$1=C$1.3456.
Foreign investment in Canadian securities declined by C$19.1 billion in March, marking the largest divestment since September 2022, according to a report since Statistics Canada. During the same month, Canadian investors reduced their holdings of foreign securities by C$5.6 billion, leaving the country with a net outflow of C$13.5 billion from the economy in March.
Crude oil was stronger, with West Texas Intermediate up by 1.6 per cent at US$71.96 per barrel.
The TSX was weaker, down by 32.41 points at 8:42 CDT, trading at 20,209.66 points.
