Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, January 20 – The Canadian dollar was stronger against
its US counterpart at midday Monday, reversing some of last week’s
losses amid quiet trading due to the Martin Luther King Jr. Day federal
holiday in the US, industry watchers said.
The loonie was given a boost by the US dollar’s inability to break
through resistance seen at the key technical level of C$1.1000 on
Friday, brokers said.
Gains seen in commodities, including crude oil and gold, added to
the bullish tone.
At 11:48 CST Monday, the Canadian dollar was trading at US$0.9124
or US$1.0960, which compares with Friday’s North American close of
US$0.9111, or US$=$1.0975.
Traders are also looking ahead to Wednesday’s Bank of Canada
interest rate announcement.
At 11:48 CST Monday, the Toronto Stock Exchange was up 81.00
points to sit at 13,969.21.