By Commodity News Service Canada
WINNIPEG, December 12 – The Canadian dollar was trading at a slightly firmer level versus its US counterpart at 8:45 CST
Wednesday, as optimism that the US Federal Reserve will implement more stimulus measures boosted its value, analysts said.
At 8:45 CST Wednesday, the Canadian dollar was at US$1.0148 or US$=C$0.9854, which compares with Tuesday’s North American close of US$1.0140 or US$=C$0.9862.
Strong commodity prices, including crude oil and metals, also helped to underpin the value of the Canadian dollar.
However, soft European manufacturing data limited the Canadian dollar’s upside potential. Eurostat reported industrial production fell by a monthly 1.4% in October in the eurozone, falling below expectations of a 0.2% increase.
Statistics Canada reported there were 267,000 job vacancies among Canadian businesses in September 2012, up 19,000 from September 2011.
Canada’s net foreign debt increased by C$53.7 billion, to C$296.6 billion at the end of the third quarter in 2012, StatsCan reported.
The TSX was up 29.23 points, or 0.24%, at 8:45 CST Wednesday morning to sit at 12,311.59.
