By Commodity News Service Canada.
Winnipeg, July 10 – The Canadian dollar was weaker against its US counterpart at midday Friday, on the heels of a report stating Canada lost 6,400 jobs in the month of June.
The Canadian dollar was at US$0.7862 or US$1 = C$1.2717 at 11:50 CDT Friday morning. TD securities called for the overnight interest rate to be cut in response to overall economic weakness through the first half of 2015.
Forest fires in Alberta have prompted Teck Resources to halt development of a large oilsands project in northern Alberta.
Global markets are rallying in response to rumours that the debt-crisis in Greece could be settled soon.
On the commodity markets the August crude contract in New York slipped US$0.09 to US$52.69 a barrel. The August gold contract fell US$0.20 to US$1,160.10 an ounce.
At 11:50 CDT Friday morning, the Toronto Stock Exchange was up 122.09 points to 14,400.58.
