By Commodity News Service Canada
Winnipeg, May 25 – The Canadian dollar was weaker against its US counterpart at midday Monday, as a new report forecast a slowdown in housing.
The loonie was at US$0.8122 or US$1 = C$1.2312 at 11:50 CDT Monday morning. The full impact of low energy prices and reduced interest rates is expected to weigh down the housing market, according to a report.
Gold prices declined as the US dollar gained some traction Monday afternoon. The US Federal Reserve has shown signs it plants to raise interest rates this year.
Greece is running out of cash to pay its bills. Government officials say they can make monthly wage and pension payments this week but aren’t sure about June 5.
On the commodity markets the June crude contract in New York ell US$0.7000 to US$61.70 a barrel. The June gold contract jumped US$1.30 US$1,204.o0 an ounce.
At 11:50 CDT Monday morning, the Toronto Stock Exchange was down 7.55 points to 15,194.73.
