By Commodity News Service Canada
Winnipeg, April 15 – The Canadian dollar fell slightly against the US dollar Tuesday morning as positive manufacturing data failed to take investors’ attention off a pending rate decision by the Bank of Canada, said analysts.
On Wednesday the bank is scheduled to release its quarterly Monetary Policy Report decision and to announce whether it plans to adjust Canada’s interest rate. Most analysts believe the bank will stay dovish and that inflation may rise slightly in March.
The loonie garnered support from new Canadian manufacturing data which showed sales in February rose by 1.4%.
At 8:50 CDT Tuesday, the Canadian dollar was at US$0.9089 or US$=C$1.100 which compares with Monday’s North American close of US $0.9130, or US$=C$1.0953.
The TSX was up 5.07 points Tuesday morning at 8:50 CDT, to sit at 14,289.50.
