By Commodity News Service Canada
WINNIPEG, February 28 – The Canadian dollar was weaker against its US counterpart in early activity on Tuesday, pressured by losses in the crude oil market.
Crude oil futures declined as heavy US production weighed on the market.
At 9:25 CST Tuesday, the Canadian dollar was at US$0.7569 or US$=C$1.3212, which compares with Monday’s North American close of US$0.7597 or US$1=C$1.3163.
Advances in the US dollar were tempered by anticipation for a speech from US President Donald Trump.
In Canadian domestic data, the Industrial Product Price Index (IPPI) rose 0.4 per cent in January, mainly due to higher prices for energy and petroleum products, Statistics Canada said in a report on Tuesday.
The TSX was up 45.85 points at 9:25 CST Tuesday morning to sit
at 15,509.36.
