By Commodity News Service Canada
Winnipeg, July 25 – The Canadian dollar was higher against its US
counterpart at midday Thursday, supported by a US dollar that continued
to weaken against other currencies, market watchers said.
Adding to the Canadian dollar’s strength was a Statistics Canada
report released in the morning that showed the average weekly earnings
of non-farm payroll employees increased 0.9% in May. Looking at that
from a year-over-year basis, earnings saw a total increase of 2.5%.
At 11:27 CDT Thursday, the Canadian dollar was trading at
US$0.9723 or US$1.0284, which compares with Wednesday’s North American
close of US$0.9694, or US$=$1.0316.
Gains in commodities, including gold and copper, also added to the
loonie’s bullish tone.
At 11:27 CDT Thursday, the Toronto Stock Exchange was up 0.21
points to sit at 12,672.51.
