Loonie shoots aloft as oil rises, economy posts clever growth
The loonie climbed Friday, rising above a 80-cent mark, as oil prices rose and a country’s mercantile expansion came in stronger than expected.
The Canadian dollar was trade during 80.43 cents US after gaining 0.77 of a cent.
The loonie jumped neatly in a moments after Statistics Canada reported that a economy grew by 0.6 per cent in May, aloft than a 0.2 per cent that economists had expected.
However, arch investment strategist Philip Petursson says aloft wanton prices are expected some-more obliged for a loonie’s climb than a mercantile data.
“Canadian mercantile expansion is nice, though it tends to have reduction of an altogether impact on a equity markets,” pronounced Petursson, who works during Manulife Asset Management.
Canadian bonds lower
Meanwhile, a Toronto Stock Exchange’s SP/TSX combination index mislaid 62.71 points to 15,128.65, with many sectors lower.
Consumer discretionary bonds gave behind 1.15 per cent, while consumer staples companies were down 1.01 per cent and telecom companies mislaid 0.86 per cent.
The usually dual sectors that sealed aloft were gold, adult 0.96 per cent, and materials, adult 0.26 per cent.
In New York, a Dow Jones industrial normal modernized 33.76 points to 21,830.31, a third day in a quarrel a index has strike a new record.
The SP 500 index fell 3.32 points to 2,472.10 and a Nasdaq combination index declined 7.51 points to 6,374.68.
In commodities, a Sep wanton agreement was adult 67 cents to $49.71 US per tub and a Sep healthy gas agreement was down 3 cents during $2.94 US per mmBTU.
The Aug bullion agreement combined $8.80 to $1,275.30 US an unit and a Sep copper agreement was unvaried during $2.88 US a pound.
Article source: http://www.cbc.ca/news/business/loonie-dollar-stock-markets-1.4226883?cmp=rss