By Commodity News Service Canada
Winnipeg, November 14 – The Canadian dollar was higher against its US counterpart at midday Friday, buoyed by manufacturing data that showed sales rising 2.1 percent to C$50.3 billion during the month of September.
The rise was credited to increasing sales in the transportation equipment industry. Primary metals and the food industry also posted gains.
Markets are focused on OPEC meetings on November 27 where members will make a decision about whether to cut production in the face of rising prices.
The December copper contract rose five cents at US$3.04 a pound. The December crude oil contract rose US$0.90 to hit US$75.11 a barrel. December gold rose US$24.20 to $1,185.70 an ounce.
At 11:55 CST Friday, the Canadian dollar was trading at US$0.8855 or US$1.1293, which compares with Thursday’s North American close of US$0.8790, or US$=$1.1376.
At 11:55 CST Friday, the Toronto Stock Exchange was up 21.49 points to sit at 14,801.73.
