Canadian Forex Midday: C$ Reaches Lowest Point in Month
Friday, August 20, 2021 12:55 PM

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Winnipeg, Aug. 20, 2010 (Resource News International) -- The Canadian dollar
was sharply weaker at midday Friday after a report showed
inflation in July rose less than some economists anticipated,
prompting traders to lower bets on Bank of Canada interest-
rate increases, analysts said.

Stats Canada's numbers for July inflation showed an
increase of 1.8%, but it was still lower from what most
traders were expecting, experts said.

At 1130 CDT, the Canadian dollar was trading at C$1.0492
(95.32 US cents), compared to C$1.0398 (96.23 US cents) at
Thursday's North American settlement. Earlier Friday, the
Canadian currency hit a one month low, trading at C$1.0515
(95.10 US cents).

Investors sought safety after reports such as
yesterday's wholesale sales numbers in Canada and initial
jobless claims in the US added to evidence that the North
American recovery is in jeopardy, market watchers said.

Oil prices were also lower midday Friday. Oil was
sitting at US$73.28, down US$1.15 from Thursday's close.

At 1130 CDT Friday, the Toronto Stock Exchange was
trading at 11,662.8 points, down 47.2 points from Thursday's
close.

 

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