Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 23 – The Canadian dollar opened stronger against
its US counterpart on Tuesday, underpinned by better-than-expected
retail sales data for May.
According to Statistics Canada, retail sales rose 1.9% to C$40.4
billion in May, making it the largest rate of growth since March 2010.
Economists had originally forecast only a 0.4% increase in May.
At 8:30 CDT Tuesday, the Canadian dollar was at US$0.9698 or
US$=C$1.0311 which compares with Monday’s North American close of
US$0.9667, or US$=C$1.0344.
Losses in commodities, including gold, copper and crude oil,
prevented any further gains.
The TSX was down 1.87 points Tuesday morning at 8:30 CDT, to sit
at 12,756.51.