By Commodity News Service Canada
Winnipeg, November 12 – The Canadian dollar was higher against its US counterpart at midday Wednesday, as Federal Finance minister Joe Oliver said the government was on track to balance the budget by 2015.
Speaking Wednesday morning, Oliver said Canada would realize a C$1.9 billion surplus in 2015.
Meantime, there are indications the Eurozone could find itself back in recession as Germany’s growth is forecast to just rise by just one percent next year. The crisis in Ukraine is also expected to limit any upside.
The December copper contract was unchanged at US$3.03 a pound. The December crude oil contract fell one cent to hit US$77.93 a barrel. December gold dipped US$1.10 to $1,161.90 an ounce.
At 11:50 CST Wednesday, the Canadian dollar was trading at US$0.8856 or US$1.1292, which compares with Friday’s North American close of US$0.8792, or US$=$1.1374.
At 11:50 CST Wednesday, the Toronto Stock Exchange was down 4.65 points to sit at 14,755.62.
