Canadian Forex Midday: C$ strengthens

By Commodity News Service Canada

Winnipeg, February 12 – The Canadian dollar was stronger against
its US counterpart at midday Wednesday, underpinned by a favourable
outlook from Tuesday afternoon’s federal budget, industry watchers
said.
According to Finance Minister Jim Flaherty, Canada’s deficit is
expected to narrow to C$2.9 billion in 2014/15, leading to a forecast
budget surplus of C$6.4 billion in 2015/16.
Gains seen in commodities, including crude oil, copper, and gold,
added to the bullish tone.
At 11:25 CST Wednesday, the Canadian dollar was trading at
US$0.9096 or US$1.0993, which compares with Tuesday’s North American
close of US$0.9077, or US$=$1.1017.
At 11:25 CST Wednesday, the Toronto Stock Exchange was up 36.28
points to sit at 13,917.37.