By Commodity News Service Canada
Winnipeg, April 8 – The Canadian dollar rose a third of a cent Tuesday morning, on the strength of the Quebec election which saw the separatist Bloc Quebecois voted out of power.
In domestic data, a report from the Canada Mortgage and Housing Corp. said March housing starts dropped to an adjusted rate of 156,823 units. While the housing starts were down slightly, Canada’s real estate market should begin to warm up soon now that the spring weather is here, said an analyst.
At 8:40 CDT Tuesday, the Canadian dollar was at US$0.9145 or US$=C$1.1093 which compares with Monday’s North American close of US $0.9117, or US$=C$1.1097.
The TSX was down 122.77 points Tuesday morning at 8:40 CDT, to sit at 14,270.33.
