By Commodity News Service Canada
WINNIPEG, April 10 (CNS Canada) The Canadian dollar was stronger Monday morning, as gains in crude oil provided some support.
At 9:20 CDT Monday morning the Canadian dollar was at US$0.7482 or C$1.3365 which compares with Friday’s North American close of US$0.7457 or C$1.3410.
Better-than-expected Canadian housing starts data contributed to the firmer tone in the currency, with the Canada Mortgage and Housing Corp reporting seasonally adjusted starts in March of 253,720 units – the highest in nearly a decade. That was well above trade guesses, and the February rate of 214,253.
The Bank of Canada is set to make its latest interest rate announcement on Wednesday, April 12, and positioning ahead of the Bank’s comments is expected to be a feature early in the week.
The TSX was down by 30.05 points at 9:20 CDT to sit at 15,667.13.
