Canadian Forex Midday: C$ down over half a cent

By Commodity News Service Canada

Winnipeg, November 27 – The Canadian dollar was down over half a
cent against its US counterpart at midday Wednesday, as crude oil
prices fell to a five-month low in the morning, dropping 1.49% to
US$92.28 per barrel, market watchers said.
Further weakness came from stronger-than-expected US economic
data, participants said. According to the US Department of Labour,
claims for jobless benefits during the week ended November 23 were down
10,000 to a seasonally adjusted 316,000. Trade expectations had claims
increasing to 330,000 during the week.
Slow Canadian payroll numbers were also bearish for the loonie,
brokers said. Statistics Canada reported that non-farm payroll
employees’ average weekly earnings in September were C$918, which was
barely unchanged from C$915 in August.
At 11:30 CST Wednesday, the Canadian dollar was trading at
US$0.9439 or US$1.0594, which compares with Tuesday’s North American
close of US$0.9497, or US$=$1.0530.
At 11:30 CST Wednesday, the Toronto Stock Exchange was up 36.03
points to sit at 13,385.80.