By Commodity News Service Canada
Winnipeg, August 14 – The Canadian dollar moved slightly higher at midday on Thursday as markets await the arrival of revised jobs data for July, analysts say.
At 11:40 CDT Thursday morning, the loonie gained 0.04 of a cent to US$0.9164 or US$1 = C$1.0911, a day before Statistics Canada releases the data. The agency reported earlier this week that it had detected a mistake in the jobs data originally released last Friday.
Meanwhile, the was grim news from the eurozone as their biggest economy, Germany, decreased by a quarterly rate of 0.2 per cent, held back by weaker investment by business and by worries over the ongoing crisis in Ukraine.
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The region’s second largest economy, France, showed zero growth for the second straight quarter. Third-ranked Italy shrank.
Traders continue to watch the Russia-Ukraine conflict, as a large Russian aid convoy resumed its journey toward Ukraine on Thursday, taking a route directly toward a border crossing controlled by pro-Russian rebels. Russia insists that it has coordinated the dispatch of the goods with the International Red Cross, however the Red Cross was unable to confirm where the convoy was headed. There are worries that the move may be a cover for Russia to send troops into separatist-held territory.
At midday on Thursday, the Toronto Stock Exchange rose 37.83 points to 15,300.56.
