By Commodity News Service Canada
Winnipeg, MB, November 5, 2013 (CNS Canada) – The Canadian dollar
was weaker against its US counterpart at midday Tuesday, undermined by
stronger-than-expected US economic news, industry watchers said.
According to the Institute of Supply Management, their service
sector index increased to 55.4 points in October, up from 54.4 points
in September. Economists had expected the index to drop to 54.0 points.
Losses seen in commodities, including crude oil and gold, added to
the loonie’s bearish tone.
At 11:38 CST Tuesday, the Canadian dollar was trading at US$0.9568
or US$1.0451, which compares with Monday’s North American close of
US$0.9599, or US$=$1.0418.
However, expectations that Friday’s Canadian employment report
will show the economy created 11,000 jobs in October limited further
losses.
At 11:38 CST Tuesday, the Toronto Stock Exchange was down 26.51
points to sit at 13,335.27.
