By Commodity News Service Canada
Winnipeg, March 28 – The Canadian dollar weakened against the US dollar at 11:50 CDT Friday, as concerns about slow economic growth in China weighed on the currency, analysts said.
At 11:50 CDT Friday, the Canadian dollar was trading at US$0.9029, or US$1=C$1.1075, which compares with Thursday’s North American close of US$0.9064 or US$1=C$1.1032.
Positive economic data from the US, which showed both consumer spending and income increased 0.3 per cent in February, also weighed on the loonie.
Weakness in gold prices also contributed to the softer tone, thought strength in crude oil prices was bullish for the Canadian dollar.
The Toronto Stock Exchange was up 115.72 points, or 0.82%, at 11:50 CDT Friday, to sit at 14,249.56.
