By Commodity News Service Canada
WINNIPEG, July 28 (CNS Canada) The Canadian dollar was stronger Tuesday morning, as better-than-expected inflation data provided support.
At 8:52 CDT Friday morning the Canadian dollar was at US$0.8025 or C$1.2461 which compares with Thursday’s North American close of US$0.7987 or C$1.2520.
Canada’s GDP was up 0.6 per cent in May, marking the seventh straight monthly increase, according to Statistics Canada. Average pre-report estimates had only been for an increase of 0.2 per cent. The economy grew at an annualized rate of 4.6 per cent.
The latest attempt at dismantling the US Affordable Care Act (Obamacare) failed Friday morning, as three Republican Senators joined the Democrats in voting 49 to 51 to reject the so-called ‘skinny repeal’ bill. The US dollar dropped sharply in reaction to the news.
The TSX was weaker at 8:52 CDT, down 58.92 points at 15,131.54.
