Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 14 – The Canadian dollar opened stronger against
its US counterpart on Wednesday, underpinned by weaker-than-expected US
producer price data, market watchers said.
According to the US Department of Labour, US wholesale prices were
flat in July after increasing 0.8% in June.
Further strength came from Canadian home sale prices rising 0.7%
in July from a month earlier, the Teranet-National Bank Composite House
Price Index, said.
At 8:58 CDT Wednesday, the Canadian dollar was at US$0.9683 or
US$=C$1.0327 which compares with Tuesday’s North American close of
US$0.9668, or US$=C$1.0343.
Gains in commodities, including gold and copper, added to the
loonie’s bullish tone.
The TSX was up 2.74 points Wednesday morning at 8:58 CDT, to sit
at 12,644.93.