Canadian Forex Midday: C$ Eases

By Commodity News Service Canada

Winnipeg, May 24 – The Canadian dollar eased against its US counterpart at midday Friday, undermined by spill over pressure from the weakness seen in commodities, including crude oil and gold, analysts said.

At 11:50 CDT Friday, the Canadian dollar was trading at US$0.9691, or US$1=C$1.0319, which compares with Thursday’s North American close of US$0.9714, or US$=C$1.0310.

The Canadian dollar also continued to be pressured by concerns about the economic situation in China, following weak manufacturing data from the country released on Thursday.

There was no significant Canadian economic data affecting the loonie to report on Friday.

The Toronto Stock Exchange was down 16.93 points, or 0.13%, at 11:50 CDT Friday, to sit at 12,641.16.