By Commodity News Service Canada
Winnipeg, January 8 – The Canadian dollar was trading at a weaker level versus the US dollar at midday Tuesday, as declining crude oil and copper prices weighed on its value, analysts said.
At 11:49 CST Tuesday, the Canadian dollar was trading at US$1.0132, or US$1=C$0.9869, which compares with Monday’s North American close of US$1.0145, or US$=C$0.9857.
Soft employment data from the euro zone had traders less willing to take on riskier assets, including the Canadian dollar. The unemployment rate in the euro zone climbed to a record high 11.8% in December, from 11.7% in November.
There was no significant Canadian economic data to report on Tuesday.
The Toronto Stock Exchange was down 29.85 points, or 0.24%, at 11:49 CST Tuesday, to sit at 12,469.70.
