By Commodity News Service Canada
Winnipeg, August 14 – The Canadian dollar rose on Thursday as markets await the arrival of revised Canadian jobs data for July.
At 9:15 CDT Thursday morning, the loonie was up 0.21 of a cent to US$0.9181 or US$1 = C$1.0929, a day before Statistics Canada released the employment data. The agency announced earlier this week that there was an error in the jobs data that was originally released last Friday.
Statistics Canada will also release the June reading on manufacturing shipments on Friday.
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Meanwhile, there was grim news from the eurozone as Germany’s economy, the region’s largest, decreased by a quarterly rate of 0.2 per cent, held back by weaker investment by business and by concerns over the crisis in Ukraine.
France, the second-ranked economy, showed no growth for the second straight quarter. Third-ranked Italy shrank.
Concerns over Ukraine have only escalated since the end of the quarter on June 30, traders say, particularly after a Malaysian airliner was shot down in mid-July by a ground-to-air missile from territory held by pro-Russian separatists, according to U.S. and Ukraine.
A large Russian aid convoy resumed traveling toward Ukraine on Thursday, taking a road leading directly toward a border crossing controlled by pro-Russian rebels. Russia insists that it has coordinated the dispatched with the International Red Cross, however the organization was unable to confirm where the convoy is headed. There are fears in Ukraine that the move may be a cover to send Russian troops into separatist-held territory.
The Toronto Stock Exchange was up 34.03 points to 15,296.76 at 9:15 CDT Thursday morning.
