Canadian Forex Midday: C$ significantly higher

By Commodity News Service Canada

Winnipeg, September 4 – The Canadian dollar was significantly
higher against its US counterpart at midday Wednesday, after the Bank
of Canada announced that it would keep its overnight rate at 1%,
industry watchers said.
However, weak Canadian economic data did stop further gains,
analysts said. Statistics Canada reported that merchandise imports
increased 0.6% in July and exports declined 0.6%. This led to Canada’s
trade deficit with the world widening to C$931 million from C$460
million in June.
At 11:37 CDT Wednesday, the Canadian dollar was trading at
US$0.9537 or US$1.0485, which compares with Tuesday’s North American
close of US$0.9497, or US$=$1.0530.
Losses seen in commodities, including gold, copper and crude oil,
also limited the loonie’s gains.
At 11:37 CDT Wednesday, the Toronto Stock Exchange was up 0.53
points to sit at 12,741.03.