By Commodity News Service Canada
Winnipeg, November 26 – The Canadian dollar moved lower against
its US counterpart at midday Tuesday, undermined by better-than-
expected US housing data, industry watchers said.
According to the US Department of Commerce, building permits were
up 6.2% in October to a seasonally adjusted rate of 1.034 million.
Economists were expecting the seasonally adjusted rate to increase to
930,000 for the month.
Losses seen in commodities, including crude oil and copper, added
to the loonie’s bearish tone.
At 11:41 CST Tuesday, the Canadian dollar was trading at US$0.9474
or US$1.0555, which compares with Monday’s North American close of
US$0.9480, or US$=$1.0548.
At 11:41 CST Tuesday, the Toronto Stock Exchange was down 71.73
points to sit at 13,400.49.
