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Futures and Commodity Market News |
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Sun May 11, 2008 |
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Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts |
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WINNIPEG, MB, May 02, 2008 (Resource News International via COMTEX) -- The Canadian dollar was little changed versus the US dollar at midday on Friday. The undermining pressure stemming from US dollar strength early in the session was offset by advancing commodity values, market watchers said. The US greenback firmed early Friday as US employment data came in ahead of market expectations, with only 20,000 jobs having been shed in April as opposed to the 80,000 that had been anticipated. While the report caused the Canadian dollar to soften versus the US dollar, it firmed versus a number of other major currencies mainly because the data was seen as positive for the US economy and in turn the Canadian economy, traders said Rising global crude oil prices meanwhile, helped to support the commodity-linked currency as did upward movement in the price of gold, brokers said. There were no significant Canadian data releases scheduled for Friday New housing price data for March will be released Monday morning. At 11:53 CDT, the Canadian dollar was trading at 98.14 US cents or C$1.0189. This compares to Friday's morning level of 97.96 cents or C$1.0208 and Thursday's North American close of 98.08 US cents or C$1.0195. At midday on Friday, the TSX was higher, up 179.6 points at 11:53 CDT to sit at 14,245.4. |
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Resource News International Copyright 2008 Resource News International Please read the End User Agreement. News provided by COMTEX |
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