By Commodity News Service Canada
Winnipeg, March 25 – The Canadian dollar was trading at a firmer level against its US counterpart at midday Monday, as news that the financial problems in Cyprus is resolved for now lifted its value, analysts said.
At 11:50 CDT Monday, the Canadian dollar was trading at US$0.9785, or US$1=C$1.0220, which compares with Friday’s North American close of US$0.9772, or US$=C$1.0233.
The Canadian dollar also moved higher, underpinned by spill over support from advances seen in crude oil and outside equity markets, according to participants.
There was no significant Canadian economic data to report Monday. Traders were looking ahead to Canadian Gross Domestic Product and consumer price index data, to be released by Statistics Canada later in the week.
The Toronto Stock Exchange was down 43.96 points, or 0.34%, at 11:50 CDT Monday, to sit at 12,713.39.
