Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, December 20 – The Canadian dollar was weaker against its
US counterpart at midday Friday, undermined by weaker-than-expected
Canadian economic data and positive growth seen in the US economy,
industry watchers said.
According to Statistics Canada, retail sales in October were down
0.1% to C$40.72 billion, which was below the 0.2% gain economists were
expecting.
Statistics Canada also reported that the consumer price index in
November was up 0.9%, which was also below trade expectations of a 1.0%
gain.
Additionally, the US Department of Commerce said the US gross
domestic product for the third-quarter grew by 4.1%, beating
expectations of a 3.6% increase.
However, gains seen in commodities, including gold and copper,
limited any further losses.
At 11:28 CST Friday, the Canadian dollar was trading at US$0.9369
or US$1.0673, which compares with Thursday’s North American close of
US$0.9376, or US$=$1.0666.
At 11:28 CST Friday, the Toronto Stock Exchange was up 88.49
points to sit at 13,480.69.