Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, July 11 (CNS Canada) The Canadian dollar weakened against its US counterpart Monday morning as favourable US jobs data continued to provide extra support to the US dollar.

Stocks rallied on Monday as global economic concerns eased, working against the loonie.

Electoral success for Japanese Prime Minister Shinzo Abe, in addition to the emergence of a sole candidate to succeed David Cameron as British prime minister comforted markets, which looked forward to more stimulus from central banks.

At 8:50 CDT Monday, the Canadian dollar was at US$0.7634 or US$=C$1.3099, which compares with Friday’s North American close of US$0.7669 or US$1=C$1.3040.

The TSX was up 126.91 points, or 0.89 per cent, at 8:50 CDT Monday morning to sit at 14,386.75.