Canadian Forex Midday: C$ Weakens

By Commodity News Service Canada

Winnipeg, June 26 – The Canadian dollar was weaker against its US counterpart at midday Friday, as investors waited to see how negotiations between cash-strapped Greece and its creditors turned out prior to the weekend.

The loonie was at US$0.8095 or US$1 = C$1.2353 at 11:45 CDT Friday morning. The market was also dealing with thin liquidity in advance of next week’s holidays in the US and Canada.

Traders were monitoring Chinese stocks closely as sluggish economic activity in that country continues to pressure growth.

Investors were also positioning themselves ahead of Tuesday’s release of Canada’s GDP data.

On the commodity markets the August crude contract in New York decreased US$0.12 to US$59.58 a barrel. The August gold contract inched up US$0.30 to US$1,172.10 an ounce.

At 11:45 CDT Friday morning, the Toronto Stock Exchange was down 55.17 points to 14,842.33.