Canadian Forex Midday: C$ lower

By Commodity News Service Canada

Winnipeg, August 26 – The Canadian dollar was lower against its US
counterpart at midday Monday, but losses were limited after poor US
economic data raised doubts to whether the US Federal Reserve would
slow its monetary stimulus in the near-future, market watchers said.
According to the US Department of Commerce, orders for durable
goods fell 7.3% in July, which was much weaker than the 4% drop
economists had forecasted. The decline is the largest in close to a
year and comes after a 3.9% rise in June, analysts said.
Losses seen in commodities, including gold, copper and crude oil,
added to the loonie’s bearish tone.
At 11:24 CDT Monday, the Canadian dollar was trading at US$0.9513
or US$1.0511, which compares with Friday’s North American close of
US$0.9523, or US$=$1.0501.
At 11:24 CDT Monday, the Toronto Stock Exchange was up 17.66
points to sit at 12,779.96.