By MarketsFarm
WINNIPEG, Nov. 20 (MarketsFarm) – The Canadian dollar was slightly softer Monday morning, as currency traders await the federal government’s fall economic statement on Tuesday and comments from the Bank of Canada on Wednesday. The country’s latest inflation data will also be released on Tuesday, with retail sales data out on Friday.
At 8:46 a.m. CST Monday morning the Canadian dollar was trading at US$0.7277 or US$1=C$1.3742, which compares with Friday’s close of US$0.7288 or US$1=C$1.3722.
Investment in building construction in Canada increased by 5.3 per cent in September compared to the previous month, hitting C$18.9 billion, according to a report from Statistics Canada. The residential sector was up by 7.3 per cent at C$12.9 billion while the non-residential sector increased by 1.2 per cent at C$6.0 billion.
Crude oil was firmer Monday morning, providing some underlying support for the energy-linked Canadian currency. West Texas Intermediate crude oil was up by 1.33 per cent at US$76.75 per barrel.
The TSX was stronger, up by 15.55 points at 8:46 CST, trading at 20,191.32 points.
