By Commodity News Service Canada
WINNIPEG, April 26 The Canadian dollar gained against its US counterpart on Tuesday, supported by advances in crude oil.
The US Federal Reserve begins a two-day meeting this week to discuss the country’s monetary policy.
Analysts expect the bank will leave interest rates unchanged.
At 8:38 a.m. CDT, the Canadian dollar was at US$0.7906 or C$1.2649 which compares with Monday’s North American close of US$0.7883, or C$1.2686.
New York Mercantile crude oil futures had gained US$0.47 to sit at US$43.11 a barrel, as of 8:38 CDT.
In Canadian domestic data, the stock of Canadian direct investment abroad rose 21.8 per cent to C$1,005.2 billion in 2015, the largest increase since 2008, Statistics Canada said in a report on Tuesday.
The TSX was stronger in early activity, up 7.53 points at 8:38 a.m. CDT to sit at 13,803.52.
