By Commodity News Service Canada
WINNIPEG, July 30 – The Canadian dollar lost some ground against
its US counterpart Thursday morning after the US Federal Reserve left
interest rates unchanged, but gave a positive outlook for the US
economy, and as Statistics Canada released a report on natural gas
transportation and distribution.
At 8:45 a.m. CDT the Canadian dollar was at US$0.7686 or C$1.3010
which compares with Wednesday’s North American close of US$0.7726,
or C$1.2944.
The US Federal Reserve left interest rates unchanged on
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year. Analysts say improvements in employment, housing, and spending
sectors show the US economy is doing well, which strengthened the
greenback.
In Canadian economic data, Canadian natural gas utilities
received 11.7-billion cubic metres of marketable gas in May 2015,
up 2.4 per cent from the same month the year prior, Statistics Canada
said in a report on Thursday.
According to StatsCan, gas utilities sold 5.6-billion cubic
metres of natural gas in May, which is down 6.8 per cent. Revenues
decreased 18.5 per cent from 12 months earlier to C$1.2-billion,
largely reflecting the downward trend in natural gas prices.
The TSX was stronger in early activity, up 224.44 points at 8:45
a.m. CDT to sit at 14,301.80.
