Canadian Forex Midday: C$ Lower With Oil

By Commodity News Service Canada

Winnipeg, January 5 – The Canadian dollar was lower against its American counterpart at midday Monday, as plunging oil prices began to weigh on the loonie.

The loonie was at US$0.8843 or US$1 = C$1.1788 at 11:40 CST Monday morning.

Energy stocks on the TSX felt the blow acutely as crude oil hit the US$50 mark.

Investors are waiting for jobs data from the US to come in. Early projections are that the American economy created about 240,000 jobs in the month of December.

At 11:40 CST Monday morning, the Toronto Stock Exchange was down 405.65 points to 14,348.00.