By Commodity News Service Canada
Winnipeg, June 1 – The Canadian dollar was little changed
against its American counterpart on Thursday, as gains in crude oil
were offset by losses in metals.
Reports indicate the federal government will announce an aid
package for the beleaguered softwood lumber industry. As much as US$1
billion could be used to help lumber companies cope with the recent
introduction of US duties on Canadian softwood exports.
A column by CIBC Capital Markets predicts an increase is coming
for Canada’s monthly inflation reading. The forecast calls for a 1.8
per cent annual increase in the price index for April.
At 8:58 CDT Thursday morning the Canadian dollar was at
US$0.7419 or C$1.3479 which compares with Wednesday’s North American
close of US$0.7407 or C$1.3500.
At 8:58 CDT Thursday morning, the TSX was down 22.44 points,
or 0.15%, at 15,349.91.
