By Commodity News Service Canada
WINNIPEG, May 28 – The Canadian dollar was weaker at midday Thursday, but was off the lows hit earlier in the session as psychological support held to the downside.
At 11:49 CDT, the Canadian dollar was trading at US$0.8019 or US$1=C$1.2470 which compares with Wednesday’s close of US$0.8026 or US$=C$1.2459.
The Canadian dollar had moved below 80 US cents at one point in the day, but managed to move back above that mark as the day progressed.
Disappointing Canadian economic data did weigh on the currency. Statistics Canada said Canada’s current account deficit expanded by C$4.4 billion to C$17.5 billion in the first quarter of 2015, marking the second largest recorded deficit.
Canadian gross domestic product data will be released on Friday.
At midday Thursday the Toronto Stock Exchange was weaker, down 65.96 points at 11:49 CDT, to sit at 15,044.51.
