By Commodity News Service Canada
Winnipeg, June 27 – The Canadian dollar was higher against its US counterpart at midday Friday, amid US economic concerns.
American investors are still concerned about a weaker-than-expected US GDP reading, which showed a 2.9% contraction in the first quarter of this year.
The report also throws into question the matter of how smoothly the US could survive an interest rate hike.
The August gold contract rose $3.50 cents to US$1,320.50 an ounce, which was supportive. The September copper contract was unchanged at US$3.17 a pound. The August crude oil contract fell $0.33 cents to US$105.51 a barrel.
At 11:50 CDT Friday, the Canadian dollar was trading at US$0.9373 or US$1.0669, which compares with Thursday’s North American close of US$0.9352, or US$=$1.0693.
At 11:50 CDT Friday, the Toronto Stock Exchange was up 28.17 points to sit at 15,058.91.
