By Commodity News Service Canada
Winnipeg, October 14 – The Canadian dollar was lower against its US counterpart at midday Tuesday, as global economic worries kept traders focused on the American greenback.
Germany’s decision to slash its growth estimate for this year from 1.8 percent to 1.2 percent contributed to the uncertainty, according to an analyst.
The conflict in Iraq and the spread of the Ebola virus also unsettled markets, said participants.
The December copper contract jumped four cents to US$3.08 a pound. The November crude oil contract fell $1.28 to hit US$84.46 a barrel. December gold gained US$2.70 to $1,232.70 an ounce.
At 11:45 CDT Tuesday, the Canadian dollar was trading at US$0.8896 or US$1.1241, which compares with Friday’s North American close of US$0.8915, or US$=$1.1217.
At 11:55 CDT Tuesday, the Toronto Stock Exchange was down 110.83 points to sit at 14,116.53.
