Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 13 – The Canadian dollar opened lower against its
US counterpart on Tuesday, undermined by continued ideas that the US
Federal Reserve will slow its monetary stimulus sooner rather than
later, market watchers said.
Adding to that increasing speculation was a report released
Tuesday morning that showed US retail sales for July were up 0.2%,
analysts said. It was the fourth straight month of increases.
Gains in commodities, including gold, copper and crude oil,
limited the loonie’s losses.
At 8:39 CDT Tuesday, the Canadian dollar was at US$0.9671 or
US$=C$1.0340 which compares with Monday’s North American close of
US$0.9706, or US$=C$1.0303.
There is no major Canadian economic data scheduled to be released
on Tuesday.
The TSX was up 9.07 points Tuesday morning at 8:39 CDT, to sit at
12,603.34.