By Commodity News Service Canada.
Winnipeg, August 26 – The Canadian dollar was little changed against its US counterpart at midday Wednesday, as losses in oil and gold were offset by gains in the durable goods sector.
The Canadian dollar was at US$0.7501 or US$1 = C$1.3315 at 11:50 CDT Wednesday morning. Gold lost two percent Wednesday as investors turned to the US dollar.
New numbers show US durable goods orders jumped 2 percent in July, which indicates strength in the economy, said a trader. He added it was possible the Federal Reserve could be given permission to raise the interest rate.
Royal Bank of Canada increased its quarterly dividend by 3 percent.
On the commodity markets the September crude contract in New York fell US$0.20 to US$39.11 a barrel. The September gold contract dropped US$14.90 to US$1,123.40 an ounce.
At 11:50 CDT Wednesday morning, the Toronto Stock Exchange was down 30.56 points to 13,120.37.
