By Commodity News Service Canada
Winnipeg, May 21 – The Canadian dollar was weaker against its American counterpart Thursday morning, due to global economic worries and losses in crude oil.
At 8:55 CDT Thursday morning, the loonie was down 0.0023 of a cent to US$0.8169 or US$1 = C$1.2241. The Markit Composite Flash PMI for the euro zone dropped from 53.9 to 53.4. The Japanese economy accelerated its growth in the period from January to March, but according to a report, much of it was tied to construction of goods that haven’t necessarily been exported yet.
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Toronto-based Pacific Rubiales is closing in on a deal that could see it being bought by Mexico’s Alfa Sab de CV and investment firm Harbor Energy Ltd.
On the commodity markets the June crude contract in New York rose US$0.97 to US$59.95 a barrel. The June gold contract dipped $4.40 to US$1,204.30 an ounce.
At 8:55 CDT Thursday morning, the TSX was up 87.89 points to 15,160.72.
