Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, MB, July 22 – The Canadian dollar opened higher against
its US counterpart on Monday, underpinned by last week’s comments from
US Federal Reserve Chairman Ben Bernanke, who said the Fed was in no
hurry to end monetary stimulus.
Gains in commodities, including crude oil, copper and gold, added
to the loonie’s bullish tone.
At 8:40 CDT Monday, the Canadian dollar was at US$0.9656 or
US$=C$1.0356 which compares with Friday’s North American close of
US$0.9646, or US$=C$1.0367.
Major Canadian data for this week is May retail sales, which is
scheduled to be released Tuesday morning. According to economists, it’s
expected that there will be a 0.3% rise following a 0.1% rise in April.
The TSX was up 58.70 points Monday morning at 8:35 CDT, to sit at
12,743.83.