By Commodity News Service Canada
Winnipeg, August 22 – The Canadian dollar was little changed against its US counterpart at midday Friday, as traders sought safety in gold due to concerns over the situation in Ukraine.
The December gold contract rose US$5.20 to $1,280.60 an ounce.
Meantime, Statistics Canada reported that the consumer price index for July fell 0.2 percent, exceeding earlier forecasts. Retail sales rose 1.1 percent over May, also exceeding earlier expectations.
There is concern the US Federal Reserve may decide to hike interest rates sometime early next year, ahead of previous forecasts. The central bank is meeting today in Jackson Hole, Wyoming.
The September copper contract rose three cents to US$3.20 a pound. The October crude oil contract dipped 89 cents to US$93.07 a barrel.
At 11:50 CDT Friday, the Canadian dollar was trading at US$0.9136 or US$1.0946, which compares with Thursday’s North American close of US$0.9137, or US$=$1.0945.
At 11:50 CDT Friday, the Toronto Stock Exchange was down 11.09 points to sit at 15,544.17.
