By Commodity News Service Canada
Winnipeg, May 16 – The Canadian dollar was little changed at midday Thursday, amid mixed commodity prices. Strong crude oil values were supportive, while weaker gold prices weighed on the Canadian unit, analysts said.
At 11:55 CDT Thursday, the Canadian dollar was trading at US$0.9832, or US$1=C$1.0171, which compares with Wednesday’s North American close of US$0.9831, or US$=C$1.0172.
Positive foreign investment in Canadian securities data further underpinned the loonie. Statistics Canada reported foreign investors purchased $1.2 billion of Canadian securities in March.
Weak US economic data was also supportive. US jobless claims increased by 32,000 to 360,000 during the week ended May 11, which was higher than expected. US consumer price data was also disappointing, traders said.
The Toronto Stock Exchange was up 56.19 points, or 0.45%, at 11:55 CDT Thursday, to sit at 12,529.84.
