By Commodity News Service Canada
Winnipeg, January 15 – The Canadian dollar was higher against
its American counterpart at midday Thursday, as oil prices showed
some stability for the second straight day.
The loonie was at US$0.8376 or US$1 = C$1.1939 at 11:45 CST
Thursday morning.
According to the Philadelphia Federal Reserve Bank, activity
in the U.S. mid-Atlantic region grew at a slower pace this month.
The US Labor Department also released a report that showed claims
for state unemployment benefits climbed to 316,000 last week.
Bank of America Merrill Lynch slashed its crude oil forecasts,
predicting Brent could slump as low as US$31 a barrel by the end of
the first quarter.
On the commodity markets the February crude contract in New York
was down US$0.80 at US$47.68 a barrel. The February gold contract
surged 28.20 to US$1,262.70 an ounce.
At 11:45 CST Thursday morning, the Toronto Stock Exchange was
up 21.29 points to 14,107.34.
