By Commodity News Service Canada
Winnipeg, July 9 – The Canadian dollar strengthened against its US
counterpart at midday Tuesday, underpinned by stronger-than-expected
Canadian housing starts data, industry watchers said.
According to the Canada Mortgage and Housing Corporation, housing
starts came in at an annualized rate of 199,586 units in June. That was
higher than the 190,000 that analysts had originally forecast.
Gains in commodities, including crude oil and gold, also added to
the loonie’s bullish tone.
At 11:10 CDT Tuesday, the Canadian dollar was trading at US$0.9498
or US$1.0528, which compares with Monday’s North American close of
US$0.9470, or US$=$1.0560.
At 11:10 CDT Tuesday, the Toronto Stock Exchange was down 31.75
points to sit at 12,134.91.
