News Column

Loonie little changed, trading quiet with U.S. closed for Independence Day

July 4, 2014

Malcolm Morrison, The Canadian Press

TORONTO - The Canadian dollar was slightly higher Friday in a quiet session with U.S. markets closed for the Independence Day holiday.

The loonie was up 0.05 of a cent at 94.04 cents US.

The gain followed a rise of 0.24 of a cent on Thursday in the wake of a much stronger than expected U.S. employment report for June and other data showing Canada’s trade deficit with the world narrowed during May.

The employment data increased optimism that the American economy will rebound significantly after severe winter weather pushed the economy into contraction in the first quarter.

Canadian jobs data for June will be released July 11.

Commodity prices were mixed in electronic trading on the New York Mercantile Exchange with August crude 33 cents lower to US$103.73 a barrel.

August bullion was up $1.50 to US$1,322.10 an ounce, while September copper was unchanged at US$3.28 a pound.

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Source: Canadian Press DataFile

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