The Canadian dollar continued to advance against the US dollar Wednesday on slightly better than expected US employment and Housing data. US first time unemployment claims for the week ending Saturday August the 28th 2010 came in slightly lower than expected at a seasonally adjusted 472,000 claims. According to the National Association of Realtors, Pending Home Sales Index, the US housing market improved marginally in July based on contracts signed. A forward looking indicator, the Pending Home Sales Index rose 5.2 percent in July to 79.4 from a downwardly revised 75.5 in June. The index remains however 19.1 percent below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

At 3:30 pm EDT the Canadian dollar was trading higher against the US dollar at 1.0538.

1 US dollar = 0.9489 Canadian dollars

Please be advised that Accu-Rate Corporation does not provide investment advice. Exchange rates or reference to market conditions are provided on an information basis only. Accu-Rate strongly advises all readers to seek the advice of a registered investment professional before deciding to purchase or sell any foreign currency. None of the statements and expressions featured in this report is meant to be a solicitation or recommendation to buy, sell, or hold currencies.

Market Commentary prepared by Bruce Hauser , Accu-Rate Corporation.

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