Canadian Forex Midday: C$ Rises With Crude Oil

By Commodity News Service Canada.

Winnipeg, August 10 – The Canadian dollar was stronger against its US counterpart at midday Monday, as gains in crude oil and the gold sector pushed most stocks higher.

The Canadian dollar was at US$0.7683 or US$1 = C$1.3015 at 11:55 CDT Monday morning.

The US dollar was trading near four-month highs against a large number of foreign currencies.

A lack of domestic data exaggerated some of the volatility, said an analyst.

China is facing increased pressure to stimulate its economic growth, according to a report.

On the commodity markets the September crude contract in New York rose US$0.90 to US$45.26 a barrel. The August gold contract rose US$12.20 to US$1,106.00 an ounce.

At 11:55 CDT Monday morning, the Toronto Stock Exchange was up 135.22 points to 14,437.91.