Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 21 – The Canadian dollar opened significantly
lower against its US counterpart on Wednesday, as traders position
themselves ahead of the release of minutes from the US Federal
Reserve’s latest policy meeting, market watchers said.
According to analysts, investors are hoping the minutes will
provide an indication of when the Fed could begin slowing its monetary
stimulus.
Losses seen in commodities, including gold, copper and crude oil,
added to the loonie’s bearish tone.
At 8:53 CDT Wednesday, the Canadian dollar was at US$0.9581 or
US$=C$1.0437 which compares with Tuesday’s North American close of
US$0.9626, or US$=C$1.0389.
No major Canadian economic data is scheduled to be released on
Wednesday.
The TSX was down 38.70 points Wednesday morning at 8:53 CDT, to
sit at 12,631.41.