By Commodity News Service Canada
Winnipeg, July 7 The Canadian dollar was up on Monday morning in anticipation of the release of the Bank of Canada’s latest survey of businesses, analysts say.
At 9:04 CDT Monday morning, the Canadian dollar was quoted at US$0.9407 or US$1 = C$1.0639, up 0.23 cents from Friday’s close.
The Bank of Canada’s April survey had shown some signs of improvements for exporters, with businesses indicating they had a positive future outlook, based on a strengthening U.S. economy and a depreciation of the Canadian dollar. Traders are expecting the latest survey to reinforce those views.
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Statistics Canada’s June employment report may also have an impact on the dollar after it is released on Friday. The report is expected to show that 24,000 jobs were created last month compared to 25,800 jobs in May, with the jobless rate remaining unchanged at seven per cent.
On the commodity markets, August crude oil was down seven cents to US$103.99 a barrel. August gold bullion dipped to US$1,317 an ounce and September copper dropped to US$3.25 a pound.
The TSX dropped 67.49 points to sit at 15,147.47 at 9:04 CDT Monday morning.
