By Commodity News Service Canada
WINNIPEG, July 14 – The Canadian dollar lost some ground against
its US counterpart Wednesday morning ahead of an announcement from
the Bank of Canada on the potential for an interest rate cut, and
as Statistics Canada released a report on the country’s manufacturing
sales.
At 8:45 a.m. CDT the Canadian dollar was at US$0.7816 or C$1.2794
which compares with Thursday’s North American close of US$0.7849,
or C$1.2740.
Manufacturing sales edged up 0.1 per cent to C$49.9 billion in
May, while constant dollar sales fell 0.5 per cent, indicating a lower
volume of goods sold, Statistics Canada said in a report on Wednesday.
According to StatsCan, gains in Quebec were offset by declines
in Ontario. The other provinces reported only minor fluctuations,
with the largest dollar gain in Alberta.
The TSX was stronger in early activity, up 66.18 points at 8:45
a.m. CDT to sit at 14,599.40.
