By Commodity News Service Canada
WINNIPEG, May 16 The Canadian dollar was stronger compared to the US dollar Thursday morning, amid support from weak US economic data, analysts said.
At 9:02 CDT Thursday the Canadian dollar was at US$0.9845 or US$=C$1.0157, which compares with Wednesday’s North American close of US$0.9831 or US$=C$1.0173.
In the US, jobless claims increased by 32,000 to 360,000 during the week ended May 11, which was higher than expected, participants noted. US consumer price data was also disappointing.
An increase in foreign investment in Canadian securities also helped to underpin the Canadian dollar. Statistics Canada reported foreign investors purchased $1.2 billion of Canadian securities in March.
The TSX was down 5.54 points, or 0.04%, at 9:02 CDT Thursday morning to sit at 12,468.11.
