By Commodity News Service Canada
Winnipeg, November 15 – The Canadian dollar was higher relative
to its American counterpart Tuesday morning, bolstered by gains in
oil.
The Royal Bank of Canada announced it is raising its five-year
mortgage rate in response to spiking bond yields. The news comes as
Canadian home prices continue to soar.
At 8:50 CST, the loonie was up 0.0022 of a cent to US$0.7398
or US$1=C$1.3517.
At 8:50 CST Tuesday morning, the TSX was up 37.15 points, or
0.25%, at 14,635.60.
The market took strength from gains in crude oil, gold, silver
and natural gas.
Warren Buffett’s Berkshire Hathaway company has sold its
holdings in Suncor Energy.
