By Commodity News Service Canada
Winnipeg, October 21 – The Canadian dollar was higher against its US counterpart at midday Tuesday, as new Chinese economic data buoyed commodities across the board.
China’s economic growth slowed to 7.3 percent last quarter. The number was in line with general expectations and slightly higher than the 7.2 percent that some analysts had expected.
The Bank of Canada is scheduled to deliver its next interest rate statement tomorrow. Most analysts expect Bank of Canada governor Stephen Poloz to leave the rate unchanged at one percent.
The December copper contract rose four cents at US$3.02 a pound. The November crude oil contract rose nine cents to hit US$82.80 a barrel. December gold jumped US$7.90 to $1,252.60 an ounce.
At 11:45 CDT Tuesday, the Canadian dollar was trading at US$0.8915 or US$1.1217, which compares with Monday’s North American close of US$0.8862, or US$=$1.1284.
At 11:45 CDT Tuesday, the Toronto Stock Exchange was up 176.57 points to sit at 14,514.34.
