Canadian Forex Midday: C$ Little Changed

By Commodity News Service Canada

Winnipeg, May 9 – The Canadian dollar was little changed at midday Thursday, amid pressure from weaker commodity prices and positive economic news from China, Australia and New Zealand, analysts said.

At 11:59 CDT Thursday, the Canadian dollar was trading at US$0.9971, or US$1=C$1.0029, which compares with Wednesday’s North American close of US$0.9967, or US$=C$1.0033.

Canadian new housing price data was in line with expectations, and provided little direction for the Canadian dollar. According to Statistics Canada, the New Housing Price Index (NHPI) rose 0.1% in March, following a 0.2% rise in February.

Some traders were on the sidelines ahead of Friday’s employment data from Statistics Canada. Market participants generally expect the Canadian economy to have added 11,000 new jobs in April.

The Toronto Stock Exchange was up 0.27 points, or 0.00%, at 11:59 CDT Thursday, to sit at 12,581.95.