Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 30 – The Canadian dollar opened flat against its
US counterpart on Friday, amid the release of mixed Canadian economic
data, industry watchers said.
The loonie found some strength from a Statistics Canada report
that showed the gross domestic product (GDP) expanded 1.7% at an
annualized rate, which was higher than the 1.6% pace economists had
forecast.
However, the same report reversed those gains, as it showed that
the GDP for June shrank by 0.5%, which was weaker than the 0.4% decline
that was expected.
At 8:36 CDT Friday, the Canadian dollar was at US$0.9499 or
US$=C$1.0527 which compares with Thursday’s North American close of
US$0.9497, or US$=C$1.0530.
The TSX was down 1.71 points Friday morning at 8:36 CDT, to sit at
12,703.02.