Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 24 – The Canadian dollar opened slightly stronger
against its US counterpart for a fifth consecutive day on Wednesday,
after the biggest three year gain in retail sales sparked bets for
faster economic growth this year, market watchers said.
Retail sales increased 1.9% in May, which was significantly higher
than the 0.4% increase that economists had forecast.
At 8:37 CDT Wednesday, the Canadian dollar was at US$0.9730 or
US$=C$1.0277 which compares with Tuesday’s North American close of
US$0.9723, or US$=C$1.0285.
Gains in commodities, including copper and gold, added to the
loonie’s bullish tone.
The TSX was up 1.71 points Wednesday morning at 8:37 CDT, to sit
at 12,747.09.