Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 11 – The Canadian dollar opened significantly
higher against its US counterpart on Thursday, underpinned by comments
from US Federal Reserve Chairman Ben Bernanke saying the US economy
still isn’t strong enough to do without monetary stimulus.
According to analysts, the release of the minutes from the Fed’s
June meeting showed many officials wanted to see more signs of
improving employment before reducing monthly bond purchases.
At 8:45 CDT Thursday, the Canadian dollar was at US$0.9598 or
US$=C$1.0418 which compares with Wednesday’s North American close of
US$0.9508, or US$=C$1.0518.
Gains in commodities, including gold and copper, added to the
loonie’s bullish tone.
The TSX was up 129.16 points Thursday morning at 8:45 CDT, to sit
at 12,436.09.