By Commodity News Service Canada
WINNIPEG, July 18 (CNS Canada) The Canadian dollar weakened against its US counterpart Monday morning as favourable US corporate reports continue to exceed expectations.
Equity futures shook off the impact of an attempted coup in Turkey, weighing on the loonie.
S&P and Dow are on track to rise following almost a full week of hitting record intraday highs. Investors will be assessing the quality of second-quarter earnings to justify stock valuations, as geopolitical problems take a backseat.
Foreign investors bought a net C$14.73 billion in Canadian securities in May, according to Statistics Canada, remaining strong amid uncertainty in the global economy and limiting losses for the Canadian dollar.
At 8:50 CDT Monday, the Canadian dollar was at US$0.7685 or US$=C$1.3012, which compares with Friday’s North American close of US$0.7730 or US$1=C$1.2937.
The TSX was up 8.18 points, or 0.06 per cent, at 8:50 CDT Monday morning to sit at 14,490.60.
