By Commodity News Service Canada
Winnipeg, December 24 – The Canadian dollar was weaker against its
US counterpart at midday Tuesday, as trading was relatively quiet ahead
of the Christmas and Boxing Day holidays, market watchers said.
The loonie was weakened by stronger-than-expected US economic
data, participants said. According to the US Department of Commerce,
orders for US durable goods were up 3.5% in November, beating
economists’ expectations of a 2% increase.
However, gains seen in commodities, including gold, crude oil and
copper, limited any further gains.
At 11:13 CST Tuesday, the Canadian dollar was trading at US$0.9419
or US$1.0616, which compares with Monday’s North American close of
US$0.9424, or US$=$1.0611.
At 11:13 CST Tuesday, the Toronto Stock Exchange was up 80.39
points to sit at 13,528.09.
