By Commodity News Service Canada
WINNIPEG, March 29 The Canadian dollar weakened against its US counterpart in early activity on Monday, tracking losses in crude oil.
However, pressure on the greenback from declining consumer spending data released on Monday limited some losses.
At 8:45 a.m. CDT, the Canadian dollar was at US$0.7577 or C$1.3198 which compares with Monday’s North American close of US$0.7587, or C$1.3181.
At 8:45 a.m. CDT, New York Mercantile crude oil futures had gained US$1.13 to sit at US$38.26 per barrel.
In Canadian domestic data, the industrial product price index declined 1.1 per cent in February, led by lower prices for energy and petroleum products, Statistics Canada said in a report on Tuesday.
The TSX was weaker in early activity, down 112.8 points at 8:45 a.m. CDT to sit at 13,277.39.
