Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, July 9 – The Canadian dollar gained ground against
its US counterpart Thursday morning as crude oil prices strengthened,
and a report on Canada’s new housing showed price increases.

At 8:55 a.m. CDT the Canadian dollar was at US$0.7876 or C$1.2697
which compares with Wednesday’s North American close of US$0.7849,
or C$1.2740.

The price of oil climbed about three per cent, boosted by
increased demand.

The new housing price index grew 0.2 per cent in May, following
a 0.1 per cent increase in April, Statistics Canada said in a report
on Thursday.

In other Canadian economic data, a report on Canada’s employment
rate from 1976 to 2014 released Thursday showed gains from the
mid-70s.

The report says of all individuals aged 17 to 64 who were not
attending school full time, 66 per cent were employed full time in
2014, up from 62 per cent in 1976.

Over the study period, the share of women employed full time
increased from 40 per cent to 57 per cent. The share of men employed
full time declined from 84 per cent to 74 per cent, StatsCan said.

The TSX was stronger in early activity, up 122.56 points at 8:55
a.m. CDT to sit at 14,534.63.