By Commodity News Service Canada
Winnipeg, April 22 – The Canadian dollar was nearly unchanged compared to its US counterpart at midday Monday, as traders were wary of pushing its value too far one way or the other ahead of Tuesday’s Canadian retail sales data, analysts said.
At 11:56 CDT Monday, the Canadian dollar was trading at US$0.9746, or US$1=C$1.0261, which compares with Friday’s North American close of US$0.9744, or US$=C$1.0263.
The Canadian currency was pressured by some speculative selling and weak housing sales data from the US, Canada’s biggest trading partner.
On the other side, strong commodity prices, including crude oil and gold, spilled over to help underpin the value of the Canadian dollar.
The Toronto Stock Exchange was up 14.49 points, or 0.12%, at 11:56 CDT Monday, to sit at 12,080.40.
