By Commodity News Service Canada
Winnipeg, July 14 – The Canadian dollar corrected higher against its US counterpart at midday Monday, after tumbling three quarters of a cent on disappointing jobs data released Friday.
Investors are looking ahead to the release of the Bank of Canada Monetary Policy Report on Wednesday. It is expected that Canada’s central bank will leave the key interest rate unchanged at one per cent.
The loonie has found support in recent weeks from housing data, oil prices and inflation, an analyst said.
The August gold contract fell $22.90 cents to US$1,314.50 an ounce. September copper fell one cent to US$3.25 a pound. The August crude oil contract fell 11 cents to US$100.72 a barrel.
At 11:35 CDT Friday, the Canadian dollar was trading at US$0.9331 or US$1.0717, which compares with Thursday’s North American close of US$0.9316, or US$=$1.0734.
At 11:35 CDT Friday, the Toronto Stock Exchange was up 27.35 points to sit at 15,152.85.
