Canadian Forex Midday: C$ Down Slightly With Housing Data

By Commodity News Service Canada

Winnipeg, September 11 – The Canadian dollar was slightly lower against its US counterpart at midday Thursday, as the country’s New Housing Price Index failed to post a gain for the first time in 2014.

According to a report from Statistics Canada, the index for July remained unchanged from June. This compared to a 0.2 percent increase in the previous month. The index is seen as a general indicator of housing growth by some analysts.

China’s consumer inflation sagged in August raising questions about whether the country may try to shore up its economic growth.

Unemployment claims in the US rose to 315,000. That is the largest number of claims in 10 weeks, according to a report.

The December copper contract fell three cents at US$3.08 a pound. The October crude oil contract dropped US$1.09 to US$90.58 a barrel. December gold fell US$1.70 to $1,243.60 an ounce.

At 11:55 CDT Thursday, the Canadian dollar was trading at US$0.9061 or US$1.0363, which compares with Wednesday’s North American close of US$0.9145, or US$=$1.0935.

At 11:55 CDT Thursday, the Toronto Stock Exchange was up 39.01 points to sit at 15,510.90.

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