Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, October 3 – The Canadian dollar was stronger against its
US counterpart at midday Thursday, underpinned by positive economic
data, industry watchers said.
According to the Department of Finance Canada, Canada’s
international reserves increased in September by US$1.464 billion to
US71.392 billion.
The loonie remains in a narrow trading range as the partial
shutdown of the US government entered its third day, analysts said.
Losses seen in commodities, including gold, copper and crude oil,
were bearish, as was the US Department of Labour’s jobless claims
report. The report said jobless claims rose by only 1,000 to 308,000
during the week ended September 28, which was much lower than the
315,000 economists had forecast.
At 11:48 CDT Thursday, the Canadian dollar was trading at
US$0.9692 or US$1.0317, which compares with Wednesday’s North American
close of US$0.9679, or US$=$1.0332.
At 11:48 CDT Thursday, the Toronto Stock Exchange was down 125.05
points to sit at 12,713.98.