Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 24 – The Canadian dollar fell lower against its American counterpart Friday morning, as more negative economic data from China weighed down the loonie.

At 8:50 CDT Friday morning, the loonie was down 0.0021 of a cent to US$0.7647 or US$1 = C$1.3077. According to China’s purchasing manager’s index, the country’s economy has fallen to a 15-month low.

Investors are now waiting to see the US PMI along with new home sales data, according to a report.

On the commodity markets the September crude contract in New York climbed US$0.40 to US$48.85 a barrel. The August gold contract fell $12.40 to US$1,081.70 an ounce.

At 8:50 CDT Friday morning, the TSX was down 26.99 points to 14,238.38.