By Commodity News Service Canada
Winnipeg, May 5 – The Canadian dollar was up slightly against its US counterpart at midday Monday, as signs indicate the US economy is doing better in the second quarter.
The Institute for Supply Management’s non-manufacturing index advanced to 55.2%. That’s up from the March reading of 53.1%. Economists had expected an April reading of 54.2 percent The indicator measures several industries including retail, utilities, healthcare, agriculture and construction.
The energy sector fell 0.32% as the June contract for crude oil fell 26 cents to US$99.50 a barrel, which put pressure on the dollar.
At 11:40 CDT Monday, the Canadian dollar was trading at US$0.9129 or US$1.1954, which compares with Friday’s North American close of US$0.9107, or US$=$1.0980.
At 11:40 CDT Monday, the Toronto Stock Exchange was down 78.07 points to sit at 14,687.08.
