By Commodity News Service Canada
Winnipeg, November 10 – The Canadian dollar was slightly lower against its US counterpart at midday Monday, pressured by domestic housing data.
Housing starts in Canada came in at an annualized rate of 183,604 units in October. That compares to 197,355 in September. Analysts had initially forecast housing starts to come in at 200,000.
Chinese export growth was pegged at 11.6 percent in October. That beat analysts’ expectations the rate would only be 10 percent. China’s trade surplus also widened in October to US$45.4 billion from US$30.9 billion in September.
The December copper contract was a cent lower at US$3.03 a pound. The December crude oil contract fell US$0.68 to hit US$77.97 a barrel. December gold dipped US$10.60 to $1,159.20 an ounce.
At 11:35 CST Monday, the Canadian dollar was trading at US$0.8813 or US$1.1347, which compares with Friday’s North American close of US$0.8752, or US$=$1.1426.
At 11:35 CST Monday, the Toronto Stock Exchange was down 8.00 points to sit at 14,682.83.
