By Commodity News Service Canada
Winnipeg, March 17 – The Canadian dollar made modest gains against its U.S. counterpart Monday morning as international tensions over the situation in Ukraine appear to have subsided.
An overwhelming vote in favour of Crimea joining Russia has been met with little fanfare by investors. Meanwhile, China’s announcement it is widening the Yuan trading band was expected.
Foreign investors added C$1.09 billion ($US982 million) of Canadian securities to their portfolios in January, reported Statistics Canada. In other domestic data, Canadian existing-home sales rose 0.3% in February from January according to the Canadian Real Estate Association.
The Canadian dollar will likely trade in a tight range this week, said one analyst.
At 8:53 CDT Monday, the Canadian dollar was at US$0.9028 or US$=C$1.1077 which compares with Friday’s North American close of US $0.9013, or US$=C$1.1095.
The TSX was up 23.30 points Monday morning at 8:53 CDT, to sit at 14,250.96.
