By Commodity News Service Canada
WINNIPEG, March 9 – The Canadian dollar dropped to a two-month-low against its US counterpart in early activity on Thursday, pressured by declines in crude oil.
Crude futures dropped below US$50 a barrel on Thursday, feeling the bearish effects of high US production and inventories.
At 9:10 CST Thursday, the Canadian dollar was at US$0.7401 or US$=C$1.3512, which compares with Wednesday’s North American close of US$0.7421 or US$1=C$1.3475.
In Canadian domestic data, the New Housing Price Index (NHPI) edged up 0.1 per cent in January compared with the previous month, Statistics Canada said in a report on Thursday.
The TSX was up 67.19 points at 9:10 CST Thursday morning to sit at 15,564.17.
