Canadian Forex Midday: C$ weakens significantly

By Commodity News Service Canada

Winnipeg, January 7 – The Canadian dollar was significantly weaker
against its US counterpart at midday Tuesday, dropping close to a full
cent amid weaker-than-expected Canadian economic data, industry
watchers said.
According to Statistics Canada, Canada’s trade deficit with the
world went from C$908 million in October to C$940 million in November,
as imports increased by 0.1% and exports remained unchanged. Economists
were expecting Canada’s deficit to narrow to C$100 million in November.
Losses seen in commodities, including gold and copper, added to
the bearish tone.
At 11:15 CST Tuesday, the Canadian dollar was trading at US$0.9310
or US$1.0741, which compares with Monday’s North American close of
US$0.9388, or US$=$1.0652.
At 11:15 CST Tuesday, the Toronto Stock Exchange was up 94.69
points to sit at 13,590.23.