By Commodity News Service Canada
Winnipeg, June 9 – The Canadian dollar was slightly lower Monday morning, as China reported its export growth sped up in May, despite sagging imports.
According to China’s General Administration of Customs, the country’s exports rose seven percent in dollar terms, up from 0.9 percent in April. Imports fell 1.6 percent in May.
In domestic news, the Canada Mortgage and Housing Corporation says housing starts increased to a seasonally-adjusted rate of 198,324 homes in May. That compares to 196,687 in April.
On the commodity markets, the July crude oil contract rose 87 cents to US$103.53 a barrel. July copper dropped two cents to US$3.03 a pound, which was bearish. August bullion gained $2.10 cents to US$1,254.60 an ounce, which was supportive.
At 8:35 CDT Monday, the Canadian dollar was at US$0.9160 or US$=C$1.0917 which compares with Friday’s North American close of US $0.9149, or US$=C$1.0930.
The TSX was down 38.72 points Monday morning at 8:35 CDT, to sit at 14,838.90.
