By Commodity News Service Canada
WINNIPEG, April 2 The Canadian dollar was trading at a firmer level compared to its US counterpart at 8:57 CDT Tuesday, underpinned by a positive report from the Reserve Bank of Australia, analysts said. The report noted that concerns about weakening global economic conditions are easing and that growth in China is now stable.
At 8:57 CDT Tuesday, the Canadian dollar was at US$0.9867 or US$=C$1.0135, which compares with Monday’s North American close of US$0.9836 or US$=C$1.0167.
Reduced concerns about economic problems in Cyprus, and strong Chinese manufacturing data also helped to support the value of the Canadian dollar.
There was no significant Canadian economic data to report Tuesday morning. Traders were looking ahead to Friday’s Statistics Canada employment data report.
The TSX was down 1.46 points, or 0.01%, at 8:57 CDT Tuesday morning to sit at 12,693.68.
