By Commodity News Service Canada
July 19 (CNS Canada) – The U.S. dollar continues to struggle against some currencies this morning but was holding ground compared to the euro amid questions over President Donald Trump’s ability to enact an economic agenda, following the failure of the U.S. health-care reform bill yesterday.
The Canadian dollar was up slightly, trading at 79.42 cents U.S. at 9:06 CDT (C$1.2591 per US$1). The loonie closed Tuesday at 79.19 cents U.S. (C$1.2628 per US$1).
Optimistic economic news out of China bolstered investor confidence with the MSCI emerging markets index of Asia-Pacific shares, excluding Japan, at its highest point in two years. Other Asia-based exchanges posted small gains.
Read Also
ICE Canola Midday: Prices suddenly turn lower
By Glen Hallick Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures were falling back late Friday morning, after…
The monthly survey of Canadian manufacturing shows increased sales for the third straight month, according to data from Statistics Canada. The increase was attributed to stronger sales in transportation equipment and chemical manufacturing. StatsCan said sales increased in 16 of 21 industries, which accounted for 71 per cent of the manufacturing sector.
Statistics Canada also released monthly data from large retailers that breaks down national retail sales from about 75 large operations. The survey shows that total commodities, retail trade commissions and miscellaneous services have grown almost every month since the survey began in January. It was C$15.7 billion in May, compared to C$14.7 billion in April, C$13.7 billion in March, C$11.99 billion in February and C$12.7 billion in January. Retail food sales led the way among all commodities at C$4.4 billion, followed by retail sales of soft drinks and alcohol at C$1.6 billion and clothing at C$1.3 billion.
WTI crude oil was at US$46.58 on early trading, up 18 cents U.S., or .39 per cent.
Toronto’s S&P/TSX was up 42.51 points to 15,192.08 at 9:06 a.m. CDT. The Dow Jones was at 21,601.79, up 27.06 points, or .13 per cent. The S&P 500 was at 2,468.19, up 7.58 points (.31 per cent) and Nasdaq was trading at 6,370.96, up 26.65 points, or .42 per cent.
