By Commodity News Service Canada
WINNIPEG, February 12 The Canadian dollar was trading at a slightly firmer level compared to its US counterpart at 9:00 CST Tuesday, as the US approved Cnooc Ltd.’s takeover of Nexen Inc.
At 9:00 CST Tuesday, the Canadian dollar was at US$0.9962 or US$=C$1.0038, which compares with Monday’s North American close of US$0.9957 or US$=C$1.0043.
Strong crude oil prices also helped the Canadian dollar move slightly higher Tuesday morning.
There was no significant Canadian economic data to report Tuesday morning. Traders were looking ahead to Friday’s Canadian manufacturing data.
Market participants were also looking ahead to later Tuesday, when Bank of Canada officials will discuss economic and monetary policies before a parliamentary committee.
The TSX was up 5.83 points, or 0.05%, at 9:00 CST Tuesday morning to sit at 12,753.98.
