Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, September 19 – The Canadian dollar weakened against its
US counterpart at midday Thursday, undermined by profit taking after
the loonie made significant gains Wednesday, following the US Federal
Reserve’s decision not to slow its monetary stimulus, industry watchers
said.
However, losses were limited by strong Canadian economic data,
analysts said. According to Statistics Canada, wholesale sales
increased 1.5% to C$49.5 billion in July, which was significantly
higher than the 3.1% decline seen in June.
Gains seen in commodities, including gold and copper, also limited
losses.
At 11:35 CDT Thursday, the Canadian dollar was trading at
US$0.9764 or US$1.0241, which compares with Wednesday’s North American
close of US$0.9783, or US$=$1.0222.
At 11:35 CDT Thursday, the Toronto Stock Exchange was down 18.16
points to sit at 12,913.24.