Canadian Forex Midday: C$ lower

By Commodity News Service Canada

Winnipeg, August 22 – The Canadian dollar was lower against its US
counterpart at midday Thursday, undermined by poor Canadian economic
data, market watchers said.
Retail sales were down 0.6% in June to C$40.1 billion, according
to a Statistics Canada report. Economists were expecting a 0.4% decline
in sales for the month.
Further weakness came from continued expectations that the US
Federal Reserve could slow its monetary stimulus as soon as September,
analysts said.
At 11:31 CDT Thursday, the Canadian dollar was trading at
US$0.9506 or US$1.0519, which compares with Wednesday’s North American
close of US$0.9548, or US$=$1.0473.
Gains seen in commodities, including crude oil, gold and copper,
helped to limit the loonie’s losses.
At 11:31 CDT Thursday, the Toronto Stock Exchange was up 88.96
points to sit at 12,662.04.