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Industry: Email Alert RSS FeedCanadian Forex Midday: C$ Firms.
Resource News International, November, 2007
Byline: Resource News International
WINNIPEG, MB, Nov 07, 2007 (Resource News International via COMTEX) -- The Canadian dollar was trading at a firmer level versus the US dollar at midday on Wednesday but receded slightly from early morning highs which saw the unit trading briefly above 110.00 US cents. The Canadian dollar continues to appreciate based on the strength of the Canadian economy, the weakness of the US greenback and advances in commodity prices, market watchers said.
Matthew Strauss, a senior currency analyst with RBC Capital Markets, said the Canadian dollar may rise to the $112.00 US cents mark but added that at some point the US economic slowdown will begin to spillover into the Canadian economic. At that point the rally of the...
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