By Commodity News Service Canada
WINNIPEG, April 1 The Canadian dollar was trading at a softer level compared to its US counterpart at 9:38 CDT Monday, as traders liquidated positions ahead of multiple central bank meetings being held this week, analysts said.
Policy announcements from The Bank of England, Bank of Japan, European Central Bank and the Reserve Bank of Australia are expected this week.
At 9:38 CDT Monday, the Canadian dollar was at US$0.9829 or US$=C$1.0174, which compares with Thursday’s North American close of US$0.9843 or US$=C$1.0160. Canadian and US markets were closed Friday for Good Friday.
Weakness in crude oil also spilled over to weigh on the value of the Canadian dollar.
There was no significant Canadian economic data to report on Monday. Traders were looking ahead to Friday, when Statistics Canada will release its latest employment data.
The TSX was down 22.02 points, or 0.17%, at 9:38 CDT Monday morning to sit at 12,727.88.
