By Commodity News Service Canada
WINNIPEG, May 4 The Canadian dollar was stronger against the US dollar Monday morning, supported by firmer crude oil values seen in earlier activity, analysts said.
At 9:02 CDT Monday, the Canadian dollar was at US$0.8253 or US$=C$1.2117, which compares with Friday’s North American close of US$0.8226 or US$1=C$1.2157.
Strength in gold and ideas that recent declines in the Canadian currency were overdone also helped to underpin the market.
Though, ongoing signs of economic recovery in the US continued to overhang the Canadian dollar.
There was no significant Canadian economic data released on Monday. Traders were looking ahead to Friday’s US and Canadian employment reports.
The TSX was up 36.18 points, or 0.24%, at 9:02 CDT Monday morning to sit at 15,375.95.
