Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, MB, August 12, 2013 (CNS Canada) – The Canadian dollar
opened slightly weaker against its US counterpart on Monday as traders
positioned themselves ahead of US retail sales data set to be released
on Tuesday, market watchers said.
According to economists, the report is expected to show US retail
sales rose 0.3% in July. If sales did indeed rise, analysts said they
are expecting that it could lead to the US Federal Reserve cutting back
on its bond-buying program as soon as next month.
At 8:33 CDT Monday, the Canadian dollar was at US$0.9704 or
US$=C$1.0305 which compares with Friday’s North American close of
US$0.9714, or US$=C$1.0294.
However, gains in commodities, including gold and copper, limited
the loonie’s losses.
There was no Canadian data released on Monday.
The TSX was up 3.06 points Monday morning at 8:33 CDT, to sit at
12,545.19.