Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, December 23 – The Canadian dollar was stronger against
its US counterpart at midday Monday, underpinned by better-than-
expected Canadian economic data ahead of Christmas, industry watchers
said.
According to Statistics Canada, the gross domestic product grew
0.3% in October, beating economists’ expectations of a 0.2% increase.
Statistics Canada also reported that the average weekly earnings
of non-farm employees were up 0.5% in October to C$918.
However, losses seen in commodities, including gold, copper and
crude oil, limited the loonie’s upside.
At 11:30 CST Monday, the Canadian dollar was trading at US$0.9428
or US$1.0606, which compares with Friday’s North American close of
US$0.9391, or US$=$1.0648.
At 11:30 CST Monday, the Toronto Stock Exchange was up 54.76
points to sit at 13,454.36.