By Commodity News Service Canada
Winnipeg, January 8 – The Canadian dollar was slightly higher against its American counterpart at midday Thursday, as crude oil prices began to stabilize.
The loonie was at US$0.8468 or US$1 = C$1.1809 at 11:45 CST Thursday morning.
Housing prices in Canada rose 0.1 percent in November which is in line with analysts’ expectations. New data also showed that year-on-year new housing inflation jumped to 1.7 percent.
On the commodity markets the February crude contract in New York stood at US$48.60 a barrel. March copper was unchanged at US$2.76 a pound while the February gold contract rose 2.40 to US$1,213.10 an ounce.
At 11:45 CST Thursday morning, the Toronto Stock Exchange was up 160.45 points to 14,445.45.
