Canadian Forex Midday: C$ Firms

By Commodity News Service Canada

Winnipeg, January 29 – The Canadian dollar firmed against its US counterpart at midday Tuesday, consolidating following a recent sharp decline, analysts said.

At 11:48 CST Tuesday, the Canadian dollar was trading at US$0.9969, or US$1=C$1.0031, which compares with Monday’s North American close of US$0.9935, or US$=C$1.0065.

Some technical-based buying was also responsible for the Canadian currency’s strength, according to market watchers.

Strong commodity prices also helped the Canadian dollar move to higher ground.

The Toronto Stock Exchange was up 4.22 points, or 0.03%, at 11:48 CST Tuesday, to sit at 12,820.13.