Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, January 8 – The Canadian dollar was weaker against its
US counterpart at midday Wednesday, falling to a new 44-month low
earlier in the session amid better-than-expected US economic data,
industry watchers said.
According to an Automatic Data Processing Inc. (ADP) report,
private sector jobs in the US increased by 238,000 in December, making
it the highest ADP estimate since November 2012. Economists were
expecting the report to show a 200,000 job increase.
Losses seen in commodities, including gold, copper and crude oil,
added to the bearish tone.
At 11:24 CST Wednesday, the Canadian dollar was trading at
US$0.9252 or US$1.0808, which compares with Tuesday’s North American
close of US$0.9283, or US$=$1.772.
At 11:24 CST Wednesday, the Toronto Stock Exchange was up 24.21
points to sit at 13,621.14.