By Commodity News Service Canada
WINNIPEG, March 12 The Canadian dollar was unchanged compared to its US counterpart at 8:59 CDT Tuesday, as some traders were on the sidelines due to a lack of fresh news, analysts said.
At 8:59 CDT Tuesday, the Canadian dollar was at US$0.9743 or US$=C$1.0264, which compares with Monday’s North American close of US$0.9743 or US$=C$1.0264.
Advances seen in commodities, including crude oil, gold and copper, helped to underpin the value of the Canadian dollar, traders noted.
However, weak industrial production in Britain sparked fears that the region could fall back into recession mode limited the Canadian dollar’s upside potential.
There was no significant Canadian economic data to report on Tuesday. Traders were looking ahead to Friday’s housing market data.
The TSX was up 36.48 points, or 0.28%, at 8:59 CST Tuesday morning to sit at 12,894.97.
