Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, January 6 – The Canadian dollar was weaker against its
US counterpart at midday Monday, undermined by comments from Canadian
Finance Minister Jim Flaherty on Sunday regarding the loonie, market
watchers said.
According to reports, Flaherty said there could be further
softening seen in the value of the Canadian dollar, which would help
Canadian manufacturers.
However, gains seen in commodities, including copper and gold,
limited any further losses, as did favourable Canadian economic data,
participants said.
Statistics Canada said the industrial product price index moved up
0.1% in November, following a 0.3% decline seen in October.
At 11:28 CST Monday, the Canadian dollar was trading at US$0.9381
or US$1.0659, which compares with Friday’s North American close of
US$0.9399, or US$=$1.0639.
At 11:28 CST Monday, the Toronto Stock Exchange was down 51.43
points to sit at 13,497.43.