By Commodity News Service Canada
Winnipeg, August 18 – The Canadian dollar saw little change at midday on Monday as strong risk appetite in financial markets was broadly offset by data that indicated that foreign investors were net sellers of Canadian securities in June, analysts say.
The loonie was at US$0.9183 or US$1 = C$1.0890 late Monday morning.
Analysts had expected the loonie to trade in a range in the near term with Canadian inflation and retail sales data, to be released on Friday, and with the annual gathering of central bankers and economists in Jackson Hole later this week.
Read Also
Canadian Financial Close: Loonie drops, new record for TSX
Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last….
The Canadian currency lost some steam after data showed that foreign investors sold a net C$1.07 billion worth of Canadian securities in June. However, the loonie found some support as market worries over geopolitical tensions in Ukraine eased on Monday. Ukraine had announced that its military forces had destroyed a Russian armoured force attempting to cross the border. However, there was no escalation over the weekend and traders perceived an easing in tensions in the conflict as foreign affairs ministers from both countries held discussions over the weekend in Berlin.
At 11:50 CDT Monday morning, the Toronto Stock Exchange was up 55.74 points to 15,359.95.
