By Commodity News Service Canada
Winnipeg, July 31 (CNS Canada) – The Canadian dollar was
trending lower against its U.S. counterpart Tuesday morning.
The loonie was weighed down by losses in crude oil prices.
However, the currency was bolstered somewhat by domestic
economic data. The country’s gross domestic product increased 0.5
per cent in May from the previous month.
Canadian producer prices also posted gains. The industrial
product price rose 0.5 per cent in June, which exceeded most analysts’
expectations.
At 9:10 CDT Tuesday morning the Canadian dollar was at US$0.7670
or C$1.3038, which compares with Monday’s North American close of
US$0.7680 or C$1.3021.
At 9:10 CDT Tuesday morning, the TSX was up 2.80 points, or
0.02%, at 16,348.27.
