Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, MB, February 6, 2014 (CNS Canada) – The Canadian dollar
was stronger against its US counterpart at midday Thursday, underpinned
by better-than-expected Canadian economic data, industry watchers said.
The Ivey Purchasing Managers Index was 56.8 in January, which was
well above the forecast of 52.9 from economists.
Gains seen in commodities, including crude oil and copper, added
to the bullish tone.
However, weaker-than-expected Canadian economic data limited any
further gains. According to Statistics Canada, Canada’s trade deficit
with the world widened to C$1.7 billion in December from C$1.5 billion
in November. Economists were expecting the deficit to shrink to C$650
million in December.
At 11:32 CST Thursday, the Canadian dollar was trading at
US$0.9039 or US$1.1063, which compares with Wednesday’s North American
close of US$0.9025, or US$=$1.1080.
At 11:32 CST Thursday, the Toronto Stock Exchange was up 112.94
points to sit at 13,672.63.