By Commodity News Service Canada
Winnipeg, April 13 – The Canadian dollar was down slightly against its US counterpart at midsession Monday.
General strength in the US dollar index and the movement of money out of riskier commodity-based currencies weighed on the Canadian dollar, analysts said.
At 11:48 CDT Monday, the Canadian dollar was trading at US$0.7938 or US$1=C$1.2598, which compares with Friday’s North American close of US$0.7949 or US$1=C$1.2580.
Disappointing Chinese trade data added to the bearish tone, as did weakness in gold prices and a sell-off in the Australian dollar, brokers added.
However, Friday’s positive Canadian employment data limited the downside, as did strength seen in crude oil values on Monday.
The Toronto Stock Exchange was up 8.51 points, or 0.06%, at 11:48 CDT Monday, to sit at 15,395.40.
