By Commodity News Service Canada
WINNIPEG, May 17 The Canadian dollar lost ground against its US counterpart on Tuesday, as the greenback gained on bullish domestic data.
US consumer price inflation and housing starts gained in April, outpacing analyst expectations, which gave the country’s currency a boost.
At 8:40 a.m. CDT, the Canadian dollar was at US$0.7729 or C$1.2938 which compares with Monday’s North American close of US$0.7754, or C$1.2896.
In Canadian domestic data, manufacturing sales decreased 0.9 per cent to C$50.0 billion in March, a second consecutive monthly decline, Statistics Canada said in a report on Tuesday.
The TSX was weaker in early activity, down 7.24 points at 8:40
a.m. CDT to sit at 13,886.25.
