Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 25 – The Canadian dollar opened stronger against
its US counterpart on Thursday, underpinned by a US dollar that
continues to weaken against other currencies, market watchers said.
Many traders are positioning themselves ahead of Friday’s US non-
farm payrolls data release and the US Federal Reserve’s policy
announcement next Wednesday.
Adding to the Canadian dollar’s bullish tone was a Statistics
Canada release showing weekly earnings of Canadian non-farm payroll
employees was up 0.9% in May.
At 8:35 CDT Thursday, the Canadian dollar was at US$0.9712 or
US$=C$1.0296 which compares with Wednesday’s North American close of
US$0.9694, or US$=C$1.0316.
Losses in commodities, including crude oil and copper, limited the
loonie’s gains Thursday morning.
The TSX was up 5.57 points Thursday morning at 8:35 CDT, to sit at
12,677.87.