CP: Canadian dollar gains ground against U.S. dollar as trader sentiment improves
TORONTO - The Canadian dollar is getting a boost from improved investor sentiment about the state of the global economy after flirting with parity last week.
The loonie added 0.24 of a cent to 101.18 cents US in pre-market trading Monday morning.
Crude oil lost 14 cents to US$85.24 a barrel in electronic trading on the New York Mercantile Exchange. Meanwhile, gold dropped $2.60 to US$1,740 per ounce and copper lost a penny to US$4 a pound.
Key Canadian data to be released this week will be Friday's consumer price report, which will give traders a notion of how much inflation is affecting consumer prices.
Other data to be released this week includes Canadian manufacturing data for June on Tuesday and wholesale sales on Wednesday, which will round out second-quarter statistics and could confirm little growth during the quarter.
