Futures and Commodity Market News

Mon May 12, 2008

Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts

WINNIPEG, MB, May 09, 2008 (Resource News International via COMTEX) -- The Canadian dollar was trading at a firmer price level versus the US currency in early Friday morning activity. Strength in the Canadian unit was attributed to surprisingly strong employment and merchandise trade figures, market watchers said.

The numbers once again showed Canada's economy was holding its own despite the slowing environment in the US.

Both of Canada's April employment and March merchandise trade reports exceeded forecasts, as employment rolls rose by 19,200 versus the expected 10,000, while the nation's trade surplus in March widened to its largest margin in 10 months at C$5.53 billion, against the anticipated surplus of about C$4.50 billion.

Adding to the strength in the resource-based Canadian currency was the establishment of another record high price level in global crude oil, brokers said.

In early activity, the Canadian currency was trading at 99.30 US cents or C$1.0070 which compares with Thursday's North American close of 98.28 US cents or C$1.0175.

At 09:12 CT the TSX was posting a decline, down 21.00 points at 14,587.00.

Resource News International

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