By Commodity News Service Canada
Winnipeg, Oct 6 – The Canadian dollar was up sharply at 11:55 CDT Monday, finding support from a sharp sell-off in the U.S. dollar, analysts said.
At 11:55 CDT Monday, the Canadian dollar was trading at U.S.$0.8933, or U.S.$1=C$1.1194, which compares with Friday’s North American close of U.S.$0.8882 or U.S.$1=C$1.1259.
Some spillover support also came from the gains in gold and copper values, though a softer tone in crude oil was bearish for the Canadian dollar.
There was no significant Canadian economic data reported on Monday. Traders were looking ahead to building permits data on Tuesday, as well as employment figures on Friday, both from Statistics Canada.
Canada Mortgage and Housing Corp. will release September housing starts data on Wednesday.
The Toronto Stock Exchange was down 14.98 points, or 0.10%, at 11:55 CDT Monday, to sit at 14,774.80.
