Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, November 12 – The Canadian dollar was weaker against its
US counterpart at midday Tuesday, undermined by ideas that recent
strong US economic data could lead the US Federal Reserve to slowing
its monetary stimulus before the end of 2013, industry watchers said.
Losses seen in commodities, including gold, crude oil and copper,
added to the bearish tone.
With no major Canadian economic data being released until Thursday
morning, traders are looking ahead to Tuesday afternoon’s economic
update from Finance Minister Jim Flaherty.
At 11:37 CST Tuesday, the Canadian dollar was trading at US$0.9533
or US$1.0489, which compares with Friday’s North American close of
US$0.9544, or US$=$1.0478.
At 11:37 CST Tuesday, the Toronto Stock Exchange was down 9.73
points to sit at 13,348.66.