Canada's Dollar Is Little Changed as Copper, Gold Advance

By Chris Fournier

Aug. 18 (Bloomberg) -- Canada's dollar was little changed as commodities including copper and gold advanced.

The loonie, as the Canadian currency is known because of the aquatic bird on the one-dollar coin, traded at C$1.0596 per U.S. dollar at 9:09 a.m. in Toronto. One Canadian dollar buys 94.37 U.S. cents. The currency has dropped 5.8 percent so far this year.

The Canadian dollar will weaken to C$1.10 by the end of 2009, according to the median forecast of 30 economists surveyed by Bloomberg News.

Copper for delivery in three months rose $25 to $7,385 a ton on the London Metal Exchange, the first gain in three days. Gold for immediate delivery gained $9.55 to $797.30 an ounce.

International investors bought a net C$7.25 billion ($6.84 billion) of Canadian securities in June, Statistics Canada said in a report today, beating the C$5 billion median forecast of seven economists surveyed by Bloomberg News.

To contact the reporter on this story: Chris Fournier in Montreal at cfournier3@bloomberg.net