Canadian Forex Midday: C$ weakens ahead of fed statement

By Commodity News Service Canada

Winnipeg, December 17 – The Canadian dollar was weaker against its
US counterpart at midday Tuesday, as traders continue to position
themselves ahead of the US Federal Reserve’s policy statement on
Wednesday, industry watchers said.
Losses seen in commodities, including gold, copper and crude oil,
were bearish for the loonie.
However, better-than-expected Canadian economic data limited any
further losses, analysts said. Statistics Canada said manufacturing
sales were up 1.0% to C$50.1 billion in October, beating trade
expectations of a 0.3% decline.
At 11:30 CST Tuesday, the Canadian dollar was trading at US$0.9429
or US$1.0605, which compares with Monday’s North American close of
US$0.9446, or US$=$1.0587.
At 11:30 CST Tuesday, the Toronto Stock Exchange was down 0.81
points to sit at 13,183.60.