Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 15 – The Canadian dollar opened weaker against
its US counterpart on Thursday, undermined by stronger-than-expected US
jobless data, market watchers said.
During the week ended August 10, claims for unemployment benefits
decreased by 15,000 to a seasonally adjusted 320,000, according to the
US Department of Labour. The seasonally adjusted rate is the lowest
since October 2007.
Further downward pressure came from the Canada Mortgage and
Housing Corporation, who said total housing starts in 2013 are expected
to be lower than 2012.
At 8:46 CDT Thursday, the Canadian dollar was at US$0.9678 or
US$=C$1.0332 which compares with Wednesday’s North American close of
US$0.9682, or US$=C$1.0328.
Losses in commodities, including copper and gold, added to the
loonie’s bearish tone.
The TSX was down 38.74 points Thursday morning at 8:46 CDT, to sit
at 12,600.56.