By Commodity News Service Canada
Winnipeg, November 18 – The Canadian dollar moved higher against
its US counterpart at midday Monday, underpinned by favourable Canadian
economic data, industry watchers said.
Statistics Canada reported that foreign investment in Canadian
securities increased in September to C$8.4 billion, following a
slowdown to C$2.1 billion seen in August.
Further support came from news that China is planning on making
market-friendly reforms, analysts said.
However, losses seen in commodities, including gold and copper,
limited any further gains.
At 11:36 CST Monday, the Canadian dollar was trading at US$0.9586
or US$1.0431, which compares with Friday’s North American close of
US$0.9572, or US$=$1.0447.
Investors are also looking ahead to Wednesday’s release of minutes
from the US Federal Reserve’s meeting in October.
At 11:36 CST Monday, the Toronto Stock Exchange was up 10.61
points to sit at 13,493.18.
