By Commodity News Service Canada
Winnipeg, May 14 – The Canadian dollar was slightly firmer against its US counterpart Wednesday morning as traders waited for new data to push the loonie up or down.
A report on Canadian manufacturing shipments is due out on Thursday.
The Canadian dollar is currently locked in a tight trading range but should weaken against the US dollar over the long-term, according to an analyst.
The June crude oil contract rose 33 cents to US$102.03 a barrel, which was bullish. The July copper contract was also supportive gaining four cents to US$3.17 a pound.
At 8:45 CDT Wednesday, the Canadian dollar was at US$0.9177 or US$=C$1.0897 which compares with Tuesday’s North American close of US $0.9166, or US$=C$1.0910.
The TSX was up 24.87 points Wednesday morning at 8:45 CDT, to sit at 14,679.81.
