Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 18 – The Canadian dollar opened relatively
unchanged on Thursday, undermined by better-than-expected US labour
market data, market analysts said.
US jobless claims fell by 24,000 to a seasonally adjusted 334,000
in the week ended July 13. That is better than the 340,000 claims
economists had originally expected would be filed.
Losses were limited as Canadian wholesale sales figures for May
surged 2.3%, passing expectations of only a 0.3% rise. According to
analysts, the gain was attributed to improved sales in the agriculture
supplies industry and the food industry.
At 8:35 CDT Thursday, the Canadian dollar was at US$0.9601 or
US$=C$1.0416 which compares with Wednesday’s North American close of
US$0.9602, or US$=C$1.0414.
The TSX was up 52.85 points Thursday morning at 8:35 CDT, to sit
at 12,621.62.