By Commodity News Service Canada
Winnipeg, June 30 – The Canadian dollar was down slightly against its US counterpart at midday Monday, as the latest Canadian GDP readings point to a sluggish recovery.
According to Statistics Canada, the economy grew by 0.1 per cent in April, slightly below expectations of 0.2 per cent growth.
Mining, oil and gas extraction all declined while wholesale and retail trade posted gains.
The August gold contract dropped $2.80 cents to US$1,317.20 an ounce, which was bearish. The September copper contract was up two cents at US$3.17 a pound, which was bullish. The August crude oil contract fell $0.53 cents to US$105.21 a barrel.
At 11:35 CDT Monday, the Canadian dollar was trading at US$0.9369 or US$1.0673, which compares with Friday’s North American close of US$0.9380, or US$=$1.0661.
At 11:35 CDT Monday, the Toronto Stock Exchange was up 37.51 points to sit at 15,131.76.
