By Commodity News Service Canada
July 5 (CNS Canada) – The Canadian dollar was
up 0.09 per cent compared to its U.S. counterpart,
or .00067 on early trading at C$1.3135 or 0.76135
per US$1 at 7:21 CT. It closed yesterday at C$1.3143,
or 0.7609 per US$1, falling 0.0011 through the day.
Some investors view the U.S. dollar as a safe
haven to park money as a global trade war sizzles.
In fact, the dollar in seen as a better bet than gold,
should the trade skirmish grow. Its popularity is
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the U.S. trade deficit, while the Federal Reserve
hikes interest rates at the same time. Also, gold
is usually priced in U.S. dollars in an inverse
relationship and as gold values decline, the dollar
gains.
The S&P/TSX index was roughly steady this
morning, with energy stock gains offset by declines
in materials. At 8:30 a.m. CT, the index was up 0.06
per cent at 16,314.77.
U.S. exchanges reported slight gains on early
trading, with the Dow Jones up 0.46 per cent at
24,285.82, the S&P 500 up 0.40 per cent at 2,724.19
and the Nasdaq up 0.64 per cent to 7,550.66.
