Canadian Forex Midday: C$ Inches Upward

By Commodity News Service Canada.

Winnipeg, September 10 – The Canadian dollar posted modest gains relative to its US counterpart at midday Thursday, after troubling Chinese data again sent ripples through the world’s economic sector.

The Canadian dollar was at US$0.7561 or US$1 = C$1.3225 at 11:50 CDT Thursday.

Producer prices in China fell for a 42nd consecutive month along with plunging car sales data, which highlighted the Asian giant’s recent economic track record.

However, gains in crude oil and gold helped to limit the losses.

On the commodity markets the October crude contract in New York jumped US$1.35 to US$45.50 a barrel. The December gold contract lifted US$8.70 to US$1,110.70 an ounce.

At 11:50 CDT Thursday, the Toronto Stock Exchange was up 61.38 points at 13,593.23.