By Commodity News Service Canada
Winnipeg, May 16 – The Canadian dollar was relatively unchanged against its US counterpart at midday Friday, as gains in commodities helped offset pressures felt internationally.
Data suggesting the recovery in Europe is more fragile that first thought pressured the loonie, said an analyst.
Wal-Mart also delivered a weaker-than-expected outlook for the second quarter. The retail giant is generally considered to be an economic barometer for investors.
June bullion rose 40 cents higher to US$1,294.00 an ounce, which was supportive. The June crude oil contract gained 54 cents to US$102.04 a barrel which was bullish, while copper hung steady at US$3.14 a pound.
At 11:40 CDT Friday, the Canadian dollar was trading at US$0.9198 or US$1.0872, which compares with Thursday’s North American close of US$0.9194, or US$=$1.0877.
At 11:40 CDT Friday, the Toronto Stock Exchange was down 57.76 points to sit at 14,531.13.
