Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, July 3 – The Canadian dollar weakened against its US
counterpart Friday morning, as crude oil prices fell, and a report
from China-a major importer of goods-showed slower activity.

At 8:30 a.m. CDT the Canadian dollar was at US$0.7935, or C$1.2602
which compares with Thursday’s North American close of US$0.7971,
or C$1.2545.

China’s service sector slowed to a five-month low in June, a
HSBC report said Friday. The purchasing managers’ index fell from
53.5 to 51.8.

A referendum which could determine whether Greece stays in
the euro zone is expected to come to a head on Sunday.

There was no significant economic data released by Statistics
Canada on Friday.

The TSX was stronger in early activity, up 84.66 points at 8:30
a.m. CDT to sit at 14,637.99.