By Commodity News Service Canada
Winnipeg, July 8 – The Canadian dollar was little changed against its US counterpart at midday Tuesday, as a lack of domestic data resulted in muted, sideways trading.
Rising inflation, a better American economy and surging oil prices helped push the loonie above the 94-cent US mark last week, but recently it has been unable to sustain that momentum.
The loonie could be starting to fall back into the 90-92 cents US range, according to an analyst.
The August gold contract dropped $1.40 cents to US$1,315.60 an ounce. September copper rose a cent to US$3.26 a pound.
The August crude oil contract fell $0.04 cents to US$103.49 a barrel.
At 11:45 CDT Tuesday, the Canadian dollar was trading at US$0.9366 or US$1.0677, which compares with Monday’s North American close of US$0.9366, or US$=$1.0677.
At 11:45 CDT Tuesday, the Toronto Stock Exchange was down 131.83 points to sit at 15,041.10.
