By MarketsFarm
WINNIPEG, May 20 (MarketsFarm) – The Canadian dollar was holding steady Friday morning, lacking any clear direction as investors adjusted positions ahead of the weekend.
At 8:43 a.m. CDT Friday morning the Canadian dollar was at US$0.7815 or US$1=C$1.2796, which compares with Thursday’s close of US$0.7807 or US$1=C$1.2809.
A move by China to cut a key interest rate was supportive for world equity markets.
However, uncertainty over lockdown measures in China also tempered any moves. While restrictions were easing in parts of the country, new reports of cases outside of quarantine areas in Shanghai could lead to another clampdown.
Crude oil was holding relatively steady in early activity. West Texas Intermediate was up by 0.05 per cent at US$109.95 per barrel.
The TSX was stronger, up 131.90 points at 8:43 CDT, trading at 20,313.82 points.
