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Canadian Dollar And Business Outlook

| 1 min read

By Commodity News Service Canada

WINNIPEG, May 9 The Canadian dollar was little changed against the US dollar at 8:53 CDT Thursday, amid a lack of significant fresh news, analysts said.

At 8:53 CDT Thursday the Canadian dollar was at US$0.9966 or US$=C$1.0034, which compares with Wednesday’s North American close of US$0.9967 or US$=C$1.0033.

Canadian new housing price data fell in line with expectations, and provided little direction for the Canadian dollar. According to Statistics Canada, the New Housing Price Index (NHPI) rose 0.1% in March, following a 0.2% rise in February.

Strong Chinese inflation data and good employment data from Australia and New Zealand were supportive, while weak commodity prices were bearish.

Traders were looking ahead to Friday, when Statistics Canada will release its latest employment data. Market participants generally expect the Canadian economy to have added 11,000 new jobs in April.

The TSX was up 0.43 points, or 0.00%, at 8:53 CDT Thursday morning to sit at 12,585.48.