Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, February 5 – The Canadian dollar was weaker against its
US counterpart at midday Wednesday, undermined by poor Canadian
economic data, industry watchers said.
According to Statistics Canada, building permits were down 4.1% to
C$6.5 billion in December, following a 6.6% decline seen in November.
Economists were expecting permits to be up 1.5% in December.
However, gains seen in commodities, including crude oil and gold,
limited any further losses.
At 11:28 CST Wednesday, the Canadian dollar was trading at
US$0.9007 or US$1.1102, which compares with Tuesday’s North American
close of US$0.9024, or US$=$1.1081.
At 11:28 CST Wednesday, the Toronto Stock Exchange was up 37.74
points to sit at 13,542.22.