By Commodity News Service Canada
Winnipeg, August 12 – The Canadian dollar was slightly lower
against its US counterpart at midday Monday, amid a lack of economic
news, market watchers said.
Traders positioned themselves ahead of Tuesday’s release of US
retail sales data for July. According to economists, it’s expected that
retail sales rose 0.3% during the month, which could push the US
Federal Reserve to slow down on its bond-buying program sooner than
later.
Gains in commodities, including crude oil and gold, limited the
loonie’s losses.
At 11:33 CDT Monday, the Canadian dollar was trading at US$0.9705
or US$1.0303, which compares with Friday’s North American close of
US$0.9714, or US$=$1.0294.
At 11:33 CDT Monday, the Toronto Stock Exchange was up 26.95
points to sit at 12,569.08.
