By Commodity News Service Canada
Winnipeg, June 30 The Canadian dollar fell on Monday morning against the U.S. dollar as GDP figures were lower than expected, indicating that the economy hasn’t recovered as quickly as anticipated from the harsh winter, according to Statistics Canada.
At 9:07 CDT Monday morning, the Canadian dollar was at US$0.9355 or US$1 = C$1.0676, down 0.25 cents US from Friday’s close.
StatsCan reported that the Canadian economy grew by 0.1 per cent in April, the same growth rate in March. Economists had expected 0.2 per cent growth, traders say.
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The wholesale and retail trade led the gains, while the mining, quarrying and oil and gas extraction declined after three months of increases.
Traders are looking for signs that the economy has moved on from the long, harsh winter, which dragged consumer spending in the first quarter.
On the commodity market, prices were mixed as August crude oil fell to US$105.21 a barrel while September copper was up a penny to US$3.16 a pound. August gold bullion fell to US$1,314.50 an ounce.
The TSX was up 1.41 points to sit at 15,095.66 at 9:07 CDT on Monday morning.
