By Commodity News Service Canada
Winnipeg, April 22 – The Canadian dollar was higher against its US counterpart at midday Thursday, on word Canadian banking giant CIBC was eyeing a $2 billion wealth-management and private banking acquisition, a report said.
The loonie was at US$0.8246 or US$1 = C$1.2217 at 11:50 CDT Thursday morning.
A new report is encouraging Canadian businesses to export products to the US sooner, rather than later. Export Development Canada points out the higher US dollar is making foreign investments and imports more attractive.
On the commodity markets the April crude contract in New York rose US$1.74 to US$57.90 a barrel. The April gold contract rose US$4.40 to US$1,191.30 an ounce.
At 11:50 CDT Thursday morning, the Toronto Stock Exchange was up 84.77 points to 15,389.77.
