By Commodity News Service Canada
WINNIPEG, July 31 – The Canadian dollar gained against its US
counterpart Friday morning despite a Statistics Canada report on
gross domestic product losses.
At 8:40 a.m. CDT the Canadian dollar was at US$0.7704 or C$1.2980
which compares with Thursday’s North American close of US$0.7686,
or C$1.3010.
Real gross domestic product fell 0.2 per cent in May, a fifth
consecutive monthly decrease. The decline in May was mostly a result
of contractions in manufacturing, mining, quarrying, whole sale
trade, and oil/gas extraction, Statistics Canada said in a report
on Friday.
According to StatsCan, manufacturing output contracted 1.7 per cent in
May, following no growth in April.
The TSX was stronger in early activity, up 80.98 points at 8:40
a.m. CDT to sit at 14,382.78.
