Canadian Forex Midday: C$ slightly weakens

By Commodity News Service Canada

Winnipeg, December 11 – The Canadian dollar was slightly weaker
against its US counterpart at midday Wednesday, as the loonie remained
in a narrow trading range due to a lack of fresh Canadian or US
economic data, industry watchers said.
Losses seen in commodities, including crude oil and gold, were
bearish, as were concerns that the US Federal Reserve could begin to
slow its monetary stimulus as early as next week.
However, losses were limited by the US dollar’s inability to break
through the key technical level of C$1.0700 last week, analysts said.
At 11:33 CST Wednesday, the Canadian dollar was trading at
US$0.9428 or US$1.0606, which compares with Tuesday’s North American
close of US$0.9431, or US$=$1.0603.
At 11:33 CST Wednesday, the Toronto Stock Exchange was up 126.15
points to sit at 13,197.86.