Canadian Forex Midday: C$ Weaker

By Commodity News Service Canada

Winnipeg, September 12 – The Canadian dollar was weaker against
its US counterpart at midday Thursday, undermined by strong US jobless
claims data that could lead the US Federal Reserve to slowing its
monetary stimulus at next week’s policy meeting, industry watchers
said.
According to the US Department of Labour, unemployment claims
during the week ended September 7 were down 31,000 to a seasonally
adjusted 292,000, which is the lowest level since 2006.
Losses seen in commodities, including gold and copper, added to
the bearish tone.
Statistics Canada reported that new house prices were up 0.2% in
July, beating economists’ expectations of a 0.1% increase and limiting
the loonie’s losses.
At 11:32 CDT Thursday, the Canadian dollar was trading at
US$0.9686 or US$1.0324, which compares with Wednesday’s North American
close of US$0.9695, or US$=$1.0315.
At 11:32 CDT Thursday, the Toronto Stock Exchange was down 122.56
points to sit at 12,702.86.