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Industry: Email Alert RSS FeedCanadian Forex Midday: C$ Firm Ahead of US Fed Report.
Resource News International, January, 2006
Winnipeg, MB, Jan 31, 2006 (Resource News International via COMTEX) -- The Canadian dollar was showing some modest strength midday Tuesday as sustained economic growth should see the Bank of Canada continue to raise interest rates going forward, said analysts. Firm commodity prices were also supportive for the Canadian dollar, as market participants awaited the afternoon's US Federal Reserve policy decision.
The Canadian dollar was trading at 87.45 US cents (C$1.1436) at 1135 CST (1735 GMT), which compares with 87.61 US cents (C$1.1414) early in the day, and Monday's North American close of 87.24 US cents (C$1.1463.)
Canada's gross domestic product (GDP) grew by 0.2% in November, which was in line with average estimates. The steadily growing Canadian...
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