Canadian Forex Midday: C$ Strengthens

By Commodity News Service Canada

Winnipeg, October 4 – The Canadian dollar was stronger against its
US counterpart at midday Friday, underpinned by Canadian economic data
that showed improvement in purchasing activity, industry watchers said.
Canada’s Ivey Purchasing Managers Index was up from 51.0 in August
to 51.9 in September. Despite being lower than economists’ expectations
of 52.9, it still gave a boost to the loonie.
Gains seen in commodities, including copper and crude oil, added
further support.
However, the Canadian dollar still remains in a narrow trading
range due to the partial shutdown of the US government, which is now in
its fourth day.
US nonfarm payroll data was scheduled to be released early Friday
morning, but that was postponed because of the ongoing government
shutdown.
At 11:38 CDT Friday, the Canadian dollar was trading at US$0.9701
or US$1.0308, which compares with Thursday’s North American close of
US$0.9684, or US$=$1.0326.
At 11:38 CDT Friday, the Toronto Stock Exchange was up 43.10
points to sit at 12,778.22.