Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 10 – The Canadian dollar opened higher against its
US counterpart on Wednesday, as the greenback weakened ahead of an
afternoon release of minutes from the latest US Federal Reserve
meeting, market watchers said.
According to analysts, the publication of minutes to the last
policy meeting may provide clues as to when the central bank will start
reining in its monetary stimulus. The Fed buys US$85 billion of
financial assets a month to keep interest rates low and encourage
borrowing and spending.
Gains in commodities, including crude oil, gold and copper, added
to the loonie’s bullish tone.
At 8:30 CDT Wednesday, the Canadian dollar was at US$0.9507 or
US$=C$1.0518 which compares with Tuesday’s North American close of
US$0.9500, or US$=C$1.0526.
The TSX was up 16.39 points Wednesday morning at 8:30 CDT, to sit
at 12,313.48.