By Commodity News Service Canada
Winnipeg, April 27 – The Canadian dollar was higher against its American counterpart Monday morning, as a round of disappointing US trade data continued to weigh down the US dollar.
At 8:50 CDT Monday morning, the loonie was up 0.0043 of a cent to US$0.8249 or US$1 = C$1.2122. New data shows that announced and closed private equity deals totaled C$6 billion in the first three months of the 2015 calendar year.
Land drilling services continue to wane throughout North America. Calgary-based Precision Drilling Corp. says its first-quarter profits plunged 76 percent compared to the same time last year.
The parent of Tim Hortons and Burger King missed analyst estimates for first-quarter revenue. Tim Horton’s revenue was down 1.2 percent from a year earlier.
On the commodity markets the May crude contract in New York rose US$0.44 to US$57.59 a barrel. The April gold contract rose $9.70 to US$1,184.70 an ounce.
At 8:50 CDT Monday morning, the TSX was up 21.89 points to 15,430.22.
