By Commodity News Service Canada
WINNIPEG, June 21 (CNS Canada) The Canadian dollar fell as markets opened Wednesday morning. The loonie was trading at 75.21 U.S. cents or C$1.3296 per US$1. The loonie ended Tuesday at 75.39 cents US or C$1.326 per US dollar.
The Montreal Economic Institute has calculated that U.S. anti-dumping duties expected to be applied to Canadian softwood lumber Friday, could reach as high as 10 per cent. This would be in addition to duties of about 20 per cent the U.S. slapped on Canadian softwood in April. The loss in market share as a result of the tariffs has already cost the Canadian economy C$102 million, C$66 million in British Columbia and C$16 million in Quebec, according to the institute.
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Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last….
The S&P/TSX was stronger at 8:51 CDT, up 24.13 points, or .16 per cent, at 15,173.73.
Statistics Canada reported yesterday that wholesale sales increased one per cent to C$61 billion in April, marking the seventh straight monthly advance. The machinery, equipment and supplies sector was up 7.3 percent to C$12.4 billion, with sales in farm, lawn and garden machinery, along with other machinery, equipment and supplies industries posting the largest contributions to the increase.
In the United States, investors anticipate data for the housing sector will be released later today.
