By Commodity News Service Canada
Winnipeg, June 25 – The Canadian dollar was higher against its US counterpart at midday Thursday, as new numbers show that average weekly earnings for Canadian payroll employees, not working on the farm, increased 2.5% in April compared to the previous year.
The loonie was at US$0.8098 or US$1 = C$1.2348 at 11:50 CDT Thursday morning. The pressure is building on Athens as its creditors recently handed the country’s politicians a final cash-for-reforms proposal.
Canada’s small-business sector increased investments in most parts of the country as the sector dealt with the fallout of low oil prices. PayNet, believes a shift in the economy is underway.
Setbacks in oil and gold also pressured the dollar.
On the commodity markets the August crude contract in New York decreased US0.35 to US$59.92 a barrel. The August gold contract dipped 0.30 to US$1,172.60 an ounce.
At 11:50 CDT Thursday morning, the Toronto Stock Exchange was down 30.65 points to 14,916.59.
