By Commodity News Service Canada.
Winnipeg, August 14 – The Canadian dollar was slightly lower against its US counterpart at midday Friday, as Canadian factory sales came in below expectations.
The Canadian dollar was at US$0.7646 or US$1 = C$1.3078 at 11:50 CDT Friday morning. New numbers showed that manufacturing sales in Canada increased 1.2 percent to 50.76 billion Canadian dollars in June. However trade analysts had expected that reading to come in at 2.7 percent.
Canadian stocks are still stabilizing after China’s bout of yuan weakness earlier this week, said a trader.
The US dollar firmed against a basket of currencies this morning.
On the commodity markets the September crude contract in New York rose US$0.13 to US$43.11 a barrel. The September gold contract fell US$2.60 to US$1,112.60 an ounce.
At 11:50 CDT Friday morning, the Toronto Stock Exchange was up 33.69 points to 14,272.09.
