By Commodity News Service Canada
WINNIPEG, June 30- The Canadian dollar weakened against its US
counterpart Tuesday morning, falling to lows not seen in three weeks,
as information on Canada’s GDP decline was released.
At 8:30 a.m. CDT the Canadian dollar was at US$0.8042 or C$1.2435
which compares with Monday’s North American close of US$0.8070, or
C$1.2392.
Real gross domestic product edged down 0.1 per cent in April,
falling for the fourth month in a row, Statistics Canada said Monday.
Goods production dropped 0.8 per cent for a fourth consecutive
month, due in part to reductions in mining, quarrying, oil and gas
extraction industries, StatsCan says.
Manufacturing, utilities and construction decreased, while the
agriculture and forestry sectors increased.
The TSX was weaker in early activity, down 317.94 points at 8:30
a.m. CDT to sit at 14,490.15.
