By Commodity News Service Canada
Winnipeg, September 17 – The Canadian dollar was stronger against
its US counterpart at midday Tuesday, underpinned by favourable
Canadian economic data, industry watchers said.
Statistics Canada reported that manufacturing sales increased 1.7%
to C$49.5 billion in July, which was significantly higher than the 0.5%
gain economists were expecting.
Weaker-than-expected US economic data added to the Canadian
dollar’s strength, analysts said. Reports said the US consumer price
index increased just 0.1% in August, down from the 0.2% gain in July.
Losses seen in commodities, including gold, copper and crude oil,
limited the loonie’s advances.
At 11:30 CDT Tuesday, the Canadian dollar was trading at US$0.9715
or US$1.0293, which compares with Monday’s North American close of
US$0.9685, or US$=$1.0325.
At 11:30 CDT Tuesday, the Toronto Stock Exchange was up 0.95
points to sit at 12,817.83.
