Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, November 20 – The Canadian dollar was stronger against
its US counterpart at midday Wednesday, underpinned by favourable
Canadian wholesale sales data, industry watchers said.
Statistics Canada reported that sales were up for the third
consecutive month, increasing by 0.2% in September to C$49.8 billion.
Gains seen in commodities, including crude oil and copper, added
to the loonie’s bullish tone.
Further strength came from poor US economic data, participants
said. According to the US Department of Labour, the consumer price
index was down 0.1% in October, making it the first decline in six
months. Economists were expecting it to be unchanged.
At 11:40 CST Wednesday, the Canadian dollar was trading at
US$0.9577 or US$1.0441, which compares with Tuesday’s North American
close of US$0.9550, or US$=$1.0471.
At 11:40 CST Wednesday, the Toronto Stock Exchange was up 4.30
points to sit at 13,438.47.