Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, November 14 – The Canadian dollar was weaker against its
US counterpart at midday Thursday, undermined by strong US jobs data,
industry watchers said.
According to the US Department of Labour, jobless benefits were
down for the fifth consecutive week, as claims declined by 2,000 to a
seasonally adjusted 339,000 during the week ended November 9.
Losses seen in commodities, including copper and crude oil, added
to the bearish tone.
However, strong Canadian economic data did limit any further
losses, participants said. Statistics Canada reported that the trade
deficit with the world narrowed to C$435 million in September, down
from C$1.1 billion in August. The report said merchandise exports were
up 1.8%, while imports were up only 0.2%
At 11:22 CST Thursday, the Canadian dollar was trading at
US$0.9531 or US$1.0492, which compares with Wednesday’s North American
close of US$0.9558, or US$=$1.0462.
At 11:22 CST Thursday, the Toronto Stock Exchange was up 72.60
points to sit at 13,443.26.