By Commodity News Service Canada
WINNIPEG, Sept. 28 – The Canadian dollar was weaker at midday Monday, as losses in crude oil weighed on the energy-linked currency. Softer economic news out of China also accounted for some of the weakness in the Canadian dollar.
At 11:52 CDT, the Canadian dollar was trading at US$0.7484 or US$1=C$1.3362 which compares with Friday’s close of US$0.7510 or US$=C$1.3316.
Chinese industrial firms’ profits dropped 8.8 per cent in August from the same time frame a year earlier, new data shows, which sent currency markets spiraling.
No significant economic data was released by Statistics Canada on Monday. GDP data will be released on Wednesday.
At midday Monday the Toronto Stock Exchange was weaker, down 226.76 points at 11:52 CDT, to sit at 13,151.81.
