Canadian Forex Midday: C$ Weaker

By Commodity News Service Canada

Winnipeg, July 24 – The Canadian dollar was weaker against its US
counterpart at midday Wednesday, undermined by a Chinese report showing
a slowdown in the country’s manufacturing sector, which has led to a
decline in crude oil prices, market analysts said.
According to a HSBC survey, China’s manufacturing is at an 11
month low in July, putting pressure on the government to reverse the
slowdown in the world’s second largest economy.
Losses were limited as some support was still coming from
Tuesday’s Canadian retail sales data. The Statistics Canada report
showed a 1.9% increase in May, making it the biggest gain in three
years.
At 11:27 CDT Wednesday, the Canadian dollar was trading at
US$0.9705 or US$1.0303, which compares with Tuesday’s North American
close of US$0.9723, or US$=$1.0285.
At 11:27 CDT Wednesday, the Toronto Stock Exchange was down 31.38
points to sit at 12,714.00.