Corporate foreign exchange news
Loonie lifts along with Canadian business sentiment
Tuesday, 14 July 2009 08:51:39 GMT

The Canadian dollar closed up against the greenback yesterday (July 13th), supported by a brace of reports from the Bank of Canada showing an improvement in business sentiment in the country.The loonie rose to finish at C$1.518 against the dollar after the Bank of Canada published reports illustrating that while credit conditions had continued to tighten in Q2, the number of businesses reporting difficulty in obtaining credit fell during the second quarter.George Davis, chief technical strategist at RBC Capital Markets, told Reuters: "In general, given the positive aspects of those reports we have seen some interest to buy Canadian dollars."Buying activity was also buoyed by a rally on the main index of the Toronto Stock Exchange late in the day. US stocks were also lifted by the anticipation that Goldman Sachs will announce stronger earnings later today.In its Q1 results, the group announced that revenues from its investment banking arm during the period had slid from $1.166 billion to $823 million year over year.

