Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, October 10 – The Canadian dollar was stronger against
its US counterpart at midday Thursday, underpinned by news that US
President Barack Obama was meeting with Republican leaders in the
morning to discuss the partial shutdown of the US government and
raising the debt ceiling, industry watchers said.
Expectations that Friday’s Canadian jobs report for September will
show growth in employment was also bullish, analysts said. Economists
are expecting to see an increase of 13,500 jobs during the month.
Gains seen in commodities, including crude oil and copper, were
supportive.
However, weaker-than-expected Canadian housing data did limit
gains. According to Statistics Canada, new housing prices were up 0.1%
in August, which was below the 0.2% increase economists’ expected.
At 11:34 CDT Thursday, the Canadian dollar was trading at
US$0.9628 or US$1.0386, which compares with Wednesday’s North American
close of US$0.9621, or US$=$1.0394.
At 11:34 CDT Thursday, the Toronto Stock Exchange was up 168.89
points to sit at 12,891.22.