Canadian Forex Midday: C$ Firmer On Tax Revenue

By Commodity News Service Canada.

Winnipeg, September 25 – The Canadian dollar was stronger relative to its US counterpart at midday Friday, as broad-based gains in tax revenue helped Canada record its fourth-straight monthly budget surplus.

The Canadian dollar was at US$0.7506 or US$1 = C$1.3322 at 11:45 CDT Friday.

A drop in debt-financing charges also helped the loonie climb against its American counterpart.

Canada posted a budget surplus of 150 million Canadian dollars.

On the commodity markets the November crude contract in New York rose US$0.43 to US$45.34 a barrel. The December gold contract fell US$8.60 to US$1,145.00 an ounce.

At 11:45 CDT Friday, the Toronto Stock Exchange was up 98.29 points to 13,436.96.