By Commodity News Service Canada
Winnipeg, November 22 – The Canadian dollar moved lower against
its US counterpart at midday Friday, undermined by weaker-than-expected
Canadian inflation data, market watchers said.
Statistics Canada reported that the year-over-year consumer price
index for October rose 0.7%, which was lower than the 0.9% increase
economists had expected.
Gains seen in commodities limited the loonie’s losses, as did
strong retail sales data, brokers said. According to Statistics Canada,
September sales were up 1.0% to C$40.7 billion. Trade expectations were
calling for just a 0.3% increase.
At 11:40 CST Friday, the Canadian dollar was trading at
US$0.9490 or US$1.0537, which compares with Thursday’s North American
close of US$0.9505, or US$=$1.0521.
At 11:40 CST Friday, the Toronto Stock Exchange was up 26.46
points to sit at 13,501.79.
