By Commodity News Service Canada
WINNIPEG, March 6 The Canadian dollar firmed against the US dollar Thursday morning, lifted by strong Canadian housing data, analysts said.
Statistics Canada reported the total value of building permits issued by Canadian municipalities rose 8.5 per cent to C$7 billion in January. Expectations called for a 1.7 per cent jump.
At 8:49 CST Thursday the Canadian dollar was at US$0.9097 or US$=C$1.1099, which compares with Wednesday’s North American close of US$0.9060 or US$=C$1.1038.
Easing worries about the political problems between Ukraine and Russia also helped to lift the Canadian dollar, as did spillover from the strength in gold prices.
However, crude oil values were weaker, which helped to limit the Canadian currency’s upside, brokers said.
Traders were looking ahead to Friday when Canadian employment data is set to be released by Statistics Canada.
The TSX was up 1.38 points, or 0.01%, at 8:49 CST Thursday morning to sit at 14,305.55.
