Loonie rises, shakes off disappointing data
Economies.com
2021-07-02 17:35PM UTC
The Canadian dollar rose against its peers on Friday, shrugging off the release of disappointing economic data.
Canada's trade balance recorded a deficit of CAD$1.4 billion in June, worse than forecasts of a surplus by CAD$400 million.
The Canadian building permits index fell 14.8% in June, missing forecasts of a rise by 0.3%.
The Canadian manufacturing PMI also fell to 56.5 points, missing estimates of 57 points.
The US Non-Farm employment change reading for June, showed the addition of 850K jobs, better than forecasts of adding 706K jobs.
As of 17:00 GMT, CAD/USD rose 0.7% to 0.8101, after hitting a high of 0.8103 and a low of 0.8031.
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