By Commodity News Service Canada
Winnipeg, Dec 30 – The Canadian dollar was stronger relative to the US dollar on Tuesday, with general weakness in the US currency providing support, analysts said.
Disappointing consumer confidence data out of the US was weighing on the country’s dollar. The Conference Board’s consumer-confidence index was at 92.6 in December, falling below expectations of 93.9.
At 11:45 CST Tuesday, the Canadian dollar was trading at US$0.8619 or US$1=C$1.1602, which compares with Monday’s North American close of US$0.8599 or US$1=C$1.1629.
Slightly firmer crude oil prices were also supporting the Canadian dollar, as was a rally in gold, brokers added.
However, ongoing worries about political and economic problems in Greece tempered the upside.
The Toronto Stock Exchange was down 24.64 points, or 0.17%, at 11:45 CST Tuesday, to sit at 14,639.28.
