By Commodity News Service Canada
WINNIPEG, May 8 The Canadian dollar was little changed against the US dollar at 9:04 CDT Wednesday, as it was consolidating following a recent rally, analysts said.
At 9:04 CDT Wednesday the Canadian dollar was at US$0.9958 or US$=C$1.0042, which compares with Tuesday’s North American close of US$0.9956 or US$=C$1.0044.
Some spillover support came from the advances seen in commodities, including crude oil, gold and copper, participants said.
However, weak Canadian housing starts data put some downward pressure on the loonie. According to Canada Mortgage & Housing Corp., Canadian housing starts were 174,900 in April, slightly below expectations of 175,000.
The TSX was up 59.11 points, or 0.47%, at 9:04 CDT Wednesday morning to sit at 12,523.22.
