By Commodity News Service Canada
Winnipeg, August 15 – The Canadian dollar was lower at midday on Friday as traders looked for safety amid a worsening standoff between Russia and Ukraine, analysts say.
At 11:45 CDT Friday morning, the loonie was down 0.09 of a cent to US$0.9163 or US$1 = $C1.0911 after Ukraine’s president announced that most of the Russian military vehicles that crossed into the country during the night have been destroyed.
Earlier, there had been reports from some Western journalists that Russian armoured personnel carriers were seen crossing into Ukraine, close to the point where a Russian aid convoy was parked.
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The Canadian dollar had gone as high as US$0.9200 earlier in the morning as revised Canadian employment data for July blew past expectations. Statistics Canada reported that the economy had added 42,000 jobs in July, much higher than the 20,000 jobs that most economists had forecast.
Earlier this week Stats Can announced that an error had been detected in its jobs data, which originally reported last Friday that only 200 jobs were created in July.
At midday on Friday, the Toronto Stock Exchange was down 66.67 points to 15,224.51.
