Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, September 30 – The Canadian dollar was stronger against
its US counterpart at midday Monday, underpinned by favourable Canadian
economic data, industry watchers said.
Statistics Canada reported that the gross domestic product (GDP)
grew by 0.6% in July, which was higher than the 0.5% increase
economists were expecting. July’s gain was the largest since 2011.
Trading was slow again on Monday as increased concerns from
investors about a possible shutdown of the US Government kept the
Canadian dollar in a narrow trading range, analysts said.
Losses seen in commodities, including gold, copper and crude oil,
limited the loonie’s advances.
At 11:36 CDT Monday, the Canadian dollar was trading at US$0.9715
or US$1.0293, which compares with Friday’s North American close of
US$0.9706, or US$=$1.0303.
At 11:36 CDT Monday, the Toronto Stock Exchange was down 13.60
points to sit at 12,830.48.