Canadian Forex Midday: C$ weakens

By Commodity News Service Canada

Winnipeg, October 7 – The Canadian dollar was weaker against its
US counterpart at midday Monday, undermined by poor Canadian economic
data, industry watchers said.
Statistics Canada reported that building permits declined in
August by 21.2%, which was significantly worse than the 7.4% drop that
economists’ expected. August’s decrease followed a 21.4% increase seen
in July.
Losses seen in commodities, including crude oil and copper, added
to the bearish tone.
Further weakness came from the partial shutdown of the US
government, which is now into its second week, traders said.
At 11:36 CDT Monday, the Canadian dollar was trading at US$0.9700
or US$1.0309, which compares with Friday’s North American close of
US$0.9716, or US$=$1.0292.
At 11:36 CDT Monday, the Toronto Stock Exchange was up 23.69
points to sit at 12,782.34.