By Commodity News Service Canada
WINNIPEG, June 16 – The Canadian dollar fell slightly against its US counterpart Tuesday morning due to weak factory sales, despite a positive report from Statistics Canada on the country’s foreign investments and a boost in employment rates.
At 8:30 a.m. CDT the Canadian dollar was at US$0.8116 or C$1.2321 which compares with Monday’s North American close of US$0.8119, or C$1.2317.
On Monday Statistics Canada said manufacturing sales had dropped 2.1 per cent in April.
Foreign investors purchased Canadian securities for the fourth month in a row in April, adding C$12.9 billion to holdings, Stats Can said Tuesday. Canadian investors purchased $1.8 billion of foreign debt securities in April—mostly non-US bonds.
Job availability increased in April, and the unemployment rate dropped from 6.7 to 5.9, a Stats Can report released Tuesday said.
The TSX was stronger in early activity, up 14.90 points at 8:30 a.m. CDT to sit at 14,756.05.
