By Commodity News Service Canada
WINNIPEG, March 10 – The Canadian dollar was slightly weaker Monday morning, as a generally softer tone in the equity and commodity markets weighed on the currency.
At 9:04 CDT Monday morning the Canadian dollar was at US$0.9011 or C$1.1098 which compares with Friday’s North American close of US$0.9017, or C$1.1090.
Softer-than-expected Chinese economic data released over the weekend weighed on commodity markets across the board, which put pressure on the commodity-linked Canadian dollar as well, said analysts.
However, domestic housing data was somewhat supportive. Canadian housing starts increased to a seasonally adjusted annualized rate of 192,100 in February, from 180,500 the previous month, reported the Canadian Mortgage and Housing Corp.
The TSX was holding steady Monday morning, up only 4.21 points at 9:04 CDT to sit at 14,303.29.
