By Commodity News Service Canada
Winnipeg, April 1 – The Canadian dollar was higher against its American counterpart at midday Wednesday, as a weak jobs report in the US was met with rising oil prices.
The loonie was at US$0.7947 or US$1 = C$1.2685 at 11:45 CDT Wednesday morning. US stock builds turned out smaller than first expected, giving crude inventories some relief.
Activity in the Canadian manufacturing sector fell for a second straight month in March.
Canada’s GDP fell 0.1 percent in January. This followed a rise of 0.3 percent in December.
On the commodity markets the April crude contract in New York rose 1.77 to US$49.37 a barrel. The April gold contract rose US$22.50 to US$1,205.70 an ounce.
At 11:45 Wednesday morning, the Toronto Stock Exchange was up 7.10 points to 14,909.54.
