By Commodity News Service Canada
Winnipeg, March 12 – The Canadian dollar was trading at a slightly firmer level compared to its US counterpart at midday Tuesday, with strong commodity prices providing support for the currency, analysts said.
At 11:59 CDT Tuesday, the Canadian dollar was trading at US$0.9748, or US$1=C$1.0259, which compares with Monday’s North American close of US$0.9743, or US$=C$1.0264.
However, weak industrial production data from the UK limited the Canadian dollar’s upside potential, as it had traders avoiding riskier assets.
There was no significant Canadian economic data to report Tuesday. Traders were looking ahead to Friday’s Canadian housing data.
The Toronto Stock Exchange was up 16.70 points, or 0.13%, at 11:59 CDT Tuesday, to sit at 12,875.19.
