By Commodity News Service Canada
Winnipeg, May 1 – The Canadian dollar was lower against its American counterpart Friday morning, as some positive new signs emerged for the US economy.
At 8:50 CDT Friday morning, the loonie was down 0.0064 of a cent to US$0.8286 or US$1 = C$1.2069. All major automakers in the US are scheduled to release sales data sometime today. Analysts are expecting to see a rise of six percent.
GM Canada says it expects to cut its assembly workforce in Oshawa by 1,000 jobs this year.
A new study says the cost of a hamburger is getting more expensive in Canada as the ingredients go up. The average price for a burger is now over six dollars.
On the commodity markets the May crude contract in New York fell US$0.35 to US$59.06 a barrel. The May gold contract sank $11.00 to US$1,1171.40 an ounce.
At 8:50 CDT Friday morning, the TSX was up 38.72 points to 15,263.45.
