By Commodity News Service Canada
WINNIPEG, March 31 – The Canadian dollar advanced against its US counterpart in early activity on Friday.
US consumer spending data disappointed analysts, which put the Canadian dollar under pressure. The country’s consumer spending came in at 0.1 per cent in February.
Canadian GDP data came in above analysts’ expectations on Friday.
Gross domestic product grew 0.6 per cent in January on the strength of widespread growth across both goods- and service-producing industries, Statistics Canada said in a report on Friday.
At 9:00 CDT Friday, the Canadian dollar was at US$0.7517 or US$=C$1.3303, which compares with Thursday’s North American close of US$0.7500 or US$1=C$1.3304.
The TSX was down 25.24 points at 9:00 CDT Friday morning to sit at 15,553.52.
