Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 1 – The Canadian dollar opened weaker against its
US counterpart on Thursday, undermined by expectations of growth in
tomorrow’s US jobs report, which could push the US Federal Reserve to
slow monetary stimulus, market watchers said.
According to economists, the report will show the US economy
created approximately 185,000 jobs July, leading to a drop in the
unemployment rate from 7.6% in June to 7.5% in July.
At 8:37 CDT Thursday, the Canadian dollar was at US$0.9708 or
US$=C$1.0300 which compares with Wednesday’s North American close of
US$0.9735, or US$=C$1.0272.
Gains in commodities, including crude oil, gold and copper,
limited the loonie’s losses.
The TSX was up 116.89 points Thursday morning at 8:37 CDT, to sit
at 12,603.53.