By Commodity News Service Canada
WINNIPEG, April 25 The Canadian dollar was stronger compared to its US counterpart Thursday morning, as positive economic news from Britain improved risk appetite, analysts said.
According to the Office for National Statistics in London, England, Britain’s gross domestic product increased 0.3% in the first quarter of 2013, beating expectations of a 0.1% rise.
At 9:00 CDT Thursday, the Canadian dollar was at US$0.9796 or US$=C$1.0208, which compares with Wednesday’s North American close of US$0.9750 or US$=C$1.0256.
Strong employment data from the US, Canada’s biggest trading partner, provided further support for the loonie. The US government said weekly jobless claims in the country fell 16,000 to 339,000, beating expectations of 350,000.
Average weekly earnings in Canada (of non-farm payroll employees) increased 0.9% in February to C$909, according to Statistics Canada.
The TSX was up 22.29 points, or 0.18%, at 9:00 CDT Thursday morning to sit at 12,292.72.
