Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 6 – The Canadian dollar opened slightly higher
against its US counterpart on Tuesday, underpinned by positive Canadian
trade data, market watchers said.
According to Statistics Canada, merchandise imports grew 0.6% and
exports increased 1.4% in June, resulting in Canada’s trade deficit
narrowing from C$781 million in May to C$469 million in June.
However, losses in commodities, including crude oil and gold,
limited the loonie’s gains.
At 8:32 CDT Tuesday, the Canadian dollar was at US$0.9629 or
US$=C$1.0385 which compares with Friday’s North American close of
US$0.9625, or US$=C$1.0390.
Canadian markets were closed to observe a civic holiday on Monday.
The TSX was down 57.27 points Tuesday morning at 8:32 CDT, to sit
at 12,545.98.