Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, January 15 – The Canadian dollar was stronger against
its US counterpart at midday Wednesday, as the loonie reversed some
early session losses after falling to a four-year low, industry
watchers said.
Gains seen in commodities, including crude oil and copper, were
bullish, as were ideas that the Canadian dollar is oversold.
However, unfavourable Canadian housing data limited the upside,
participants said. According to the Canadian Real Estate Association,
December sales of existing homes were down 1.8% from November.
At 11:32 CST Wednesday, the Canadian dollar was trading at
US$0.9146 or US$1.0933, which compares with Tuesday’s North American
close of US$0.9134, or US$=$1.0948.
At 11:32 CST Wednesday, the Toronto Stock Exchange was up 74.50
points to sit at 13,766.88.