By Commodity News Service Canada
WINNIPEG, Jan. 19 – The Canadian dollar was slightly firmer at midday Monday, although activity was on the quiet side as the US markets were closed for the Martin Luther King Jr. holiday.
At 11:54 CST, the Canadian dollar was trading at US$0.8363 or US$1=C$1.1957 which compares with Friday’s close of US$0.8356 or US$=C$1.1968.
Positioning ahead of the Bank of Canada’s interest rate announcement on Wednesday was a feature. The Bank is generally expected to keep its key rate unchanged at 1.0%, but the accompanying statement will be followed closely for signs on future moves.
In domestic data, foreign investment in Canadian securities came in at $4.3 billion in November, which was down from $9.5 billion the previous month, reported Statistics Canada. Meanwhile, Canadians added a net $1.8 billion of foreign securities to their holdings during the month.
At midday Monday the Toronto Stock Exchange was slightly weaker, down 46.79 points at 11:54 CDT to sit at 14,262.62.
