Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, July 30 – The Canadian dollar opened slightly lower
against its US counterpart on Monday as traders position themselves
ahead of Wednesday’s US Federal Reserve stimulus update, market
watchers said.
Also scheduled to be released tomorrow is Canada’s GDP data for
May and the second-quarter GDP for the US. According to analysts,
Canada’s GDP for May is expected to be up 0.2% from April.
Losses in commodities, including gold, crude oil and copper, also
contributed to the loonie’s weakness.
At 8:32 CDT Tuesday, the Canadian dollar was at US$0.9742 or
US$=C$1.0264 which compares with Monday’s North American close of
US$0.9747, or US$=C$1.0260.
The TSX was down 62.67 points Tuesday morning at 8:32 CDT, to sit
at 12,606.37.