By Commodity News Service Canada
Winnipeg, Feb. 13 – The Canadian dollar was stronger relative to the US dollar at midday Friday, following the gains seen in crude oil values, analysts said.
At 11:56 CST Friday, the Canadian dollar was trading at US$0.8031 or US$1=C$1.2452, which compares with Thursday’s North American close of US$0.8006 or US$1=C$1.2490.
Positive domestic manufacturing data was also bullish. Statistics Canada said Canadian manufacturing sales rose 1.7 per cent in December, while pre-report expectations called for a 0.5 per cent gain.
Signs that economic conditions are improving in Europe, after German data showed positive economic growth figures, further underpinned the loonie.
However, ongoing worries about the Bank of Canada possibly making another interest rate cut if economic growth struggles, limited the upside.
The Toronto Stock Exchange was up 78.58 points, or 0.52%, at 11:56 CST Friday, to sit at 15,307.10.
