By Commodity News Service Canada
Winnipeg, September 24 – The Canadian dollar was slightly weaker against its US counterpart at midday Wednesday, due to a dovish tone from the central bank and lingering effects from Tuesday’s sales data.
The lack of domestic data, other than the weaker-than-expected retail sales figures for July, cast a bearish tone over the dollar, said an analyst.
Readings from Statistics Canada indicate there was a 0.3 percent fall in wholesale trade that month, despite strong exports in manufacturing sales.
The December copper contract was up a penny at US$3.05 a pound. The November crude oil contract dropped 30 cents to hit US$91.26 a barrel. December gold fell US$1.20 to $1,220.80 an ounce.
At 11:45 CDT Wednesday, the Canadian dollar was trading at US$0.9027 or US$1.1077, which compares with Tuesday’s North American close of US$0.9034, or US$=$1.1069.
At 11:45 CDT Wednesday, the Toronto Stock Exchange was down 59.03 points to sit at 15,066.64.
