Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, October 22 – The Canadian dollar was stronger against
its US counterpart at midday Tuesday, underpinned by unfavourable US
economic data, market watchers said.
The US Department of Labour reported that the US economy created
148,000 jobs in September, which is significantly lower than the
180,000 jobs economists’ expected.
Gains seen in commodities, including gold and copper, added to the
loonie’s bullish tone.
However, weaker-than-expected Canadian economic data limited
further gains, analysts said. According to Statistics Canada, retail
sales were up 0.2% to C$40.3 billion in August, which was lower than
the 0.3% increase economists had forecast.
At 11:36 CDT Tuesday, the Canadian dollar was trading at US$0.9722
or US$1.0285, which compares with Monday’s North American close of
US$0.9708, or US$=$1.0301.
At 11:36 CDT Tuesday, the Toronto Stock Exchange was up 69.05
points to sit at 13,255.58.