Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, December 13 – The Canadian dollar was stronger against
its US counterpart at midday Friday, underpinned by ideas that weaker-
than-expected US wholesale prices could lead the US Federal Reserve to
delaying tapering until 2014, industry watchers said.
According to the US Department of Labour, the producer price index
was down 0.1% from October, which was slightly lower than the 0.1%
increase that traders were expecting.
However, losses seen in commodities, including gold and copper,
limited the loonie’s upside.
All eyes will be on the Fed next week, as they meet on December 17
and 18 for their final policy meeting in 2013.
At 11:40 CST Friday, the Canadian dollar was trading at US$0.9426
or US$1.0597, which compares with Thursday’s North American close of
US$0.9398, or US$=$1.0640.
At 11:40 CST Friday, the Toronto Stock Exchange was down 4.89
points to sit at 13,109.50.