Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 8 – The Canadian dollar opened stronger against
its US counterpart on Thursday, underpinned by positive trade data from
China, market watchers said.
According to analysts, Chinese exports were up 5.1% in July after
a 3.1% decline in June.
The Canadian dollar found further support from US jobless data
that showed claims increased by 5,000 in the week ended August 3.
Gains in commodities, including gold and copper, added to the
loonie’s bullish tone.
At 8:37 CDT Thursday, the Canadian dollar was at US$0.9619 or
US$=C$1.0396 which compares with Wednesday’s North American close of
US$0.9594, or US$=C$1.0431.
Traders are also looking ahead to Friday’s release of Canada’s job
report for July. Economists are expecting the economy to have created
10,000 jobs during the month.
The TSX was up 40.83 points Thursday morning at 8:37 CDT, to sit
at 12,453.56.