By Commodity News Service Canada
Winnipeg, September 25 – The Canadian dollar was weaker against its US counterpart at midday Thursday, under pressure from a strengthening US dollar and a weak global economic picture.
Speculation that the US Federal Reserve is heading nearer a rate hike has pushed the American greenback higher.
The US Labour Department reported that the number of people applying for unemployment benefits increased last week. Weekly applications jumped by 12,000 to 293,000 last month.
The December copper contract was down a penny at US$3.05 a pound. The November crude oil contract rose by 12 cents to hit US$92.92 a barrel. December gold rose US$0.20 to $1,219.70 an ounce.
At 11:50 CDT Thursday, the Canadian dollar was trading at US$0.9004 or US$1.1106, which compares with Wednesday’s North American close of US$0.9034, or US$=$1.1069.
At 11:50 CDT Thursday, the Toronto Stock Exchange was down 202.38 points to sit at 14,918.16.
