By Commodity News Service Canada
Winnipeg, June 11 – The Canadian dollar eased against the US dollar at midday Thursday, following losses in crude oil, analysts said.
At 11:43 CDT Thursday, the Canadian dollar was trading at US$0.8115 or US$1=C$1.2322, which compares with Wednesday’s North American close of US$0.8155 or US$1=C$1.2262.
Positive retail sales data out of the US was also weighing on the Canadian dollar, as it reinforced ideas that the US Federal Reserve will raise interest rates later this year. Retail sales in the US were up 1.2 per cent, in line with expectations.
Though, jobless claims data in the US was disappointing, which limited the downside.
Housing data in Canada was released Thursday, and was in line with expectations. The New Housing Price Index rose 0.1 per cent in April, following no change in March, Statistics Canada said.
The Toronto Stock Exchange was down 56.25 points, or 0.38%, at 11:43 CDT Thursday, to sit at 14,832.79.
