By Commodity News Service Canada
Winnipeg, June 13 – The Canadian dollar was little changed Friday morning, as firm oil prices helped it withstand pressure from a strengthening US dollar.
The loonie outperformed currencies in New Zealand and Australia, suggesting its stability is due in some part to oil prices.
News that the value of Canadian factory sales fell in April had little impact on the loonie.
On the commodity markets, the July crude oil contract rose $0.35 cents to US$106.88 a barrel. July copper rose one cent to US$3.03 a pound, which was supportive. August bullion fell $0.50 cents to US$1,273.50 an ounce.
At 8:45 CDT Friday, the Canadian dollar was at US$0.9207 or US$=C$1.0861 which compares with Thursday’s North American close of US $0.9212, or US$=C$1.0855.
The TSX was down 1.53 points Friday morning at 8:45 CDT, to sit at 14,908.10.
