By CountingPips.com
A report from Statistics Canada today showed that the Leading Indicators index increased in July. The Leading Indicator Index, which measures future economic activity, rose by 0.4 percent in July following revised flat returns in May and June. July’s data was better than 
expected as market forecasts were calling for a 0.2 percent increase.
Contributing heavily to the overall index increase was a gain in the stock market index by 5.7 percent and a gain in the housing index by 4.5 percent. Also showing positive results were the money supply which increased by 0.7 percent, US Conference Board by 0.4 percent, average workweek hours by 0.3 percent and other durable goods by 2.1 percent. Contributing negatively to the index were shipments with a 0.02 percent fall, new orders for durables with a 5.9 percent decrease, furniture and appliance sales with a 0.4 percent fall and business and personal services employment with a 0.2 percent decline.
Canadian consumer prices fall by 0.3 percent.
Canada’s consumer prices decreased in July according another report released today by Statistics Canada. The consumer price index fell by 0.3 percent from June to July following a gain of 0.3 percent in June. Consumer prices registered an annual decrease of 0.9 percent from the July 2008 level. June’s annual rate had registered a decline by 0.3 percent. Market forecasts were expecting the consumer price index to decline by approximately 0.2 percent for the month to an annual rate fall of 0.8 percent.
Core consumer prices, excluding energy prices, showed no change in July and registered an annual increase of 1.8 percent. Market forecasts expected core consumer prices to rise by 0.1 percent in July and register an annual increase of 1.9 percent.
CAD rises vs. USD in Forex Trading.
The Canadian dollar has gained ground against the US dollar today in forex trading after initially falling verses the American currency earlier in the day. The USD/CAD currency pair opened trading today at 1.1030 cad per usd and has increased to an exchange rate of 1.0972 at 2:35pm in the US trading session. The USD/CAD had risen to an intraday high of 1.1113 in the European trading session earlier today before retreating lower.
