Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, MB, August 23 – The Canadian dollar opened weaker
against its US counterpart on Friday, undermined by weaker-than-
expected Canadian economic data, market watchers said.
According to StatsCan, Canada’s core inflation on a year-over-year
basis in July was 1.4%, which was significantly lower than the Bank of
Canada’s forecast of 2%.
Gains seen in commodities, including copper, gold and crude oil,
limited the loonie’s losses.
At 8:40 CDT Friday, the Canadian dollar was at US$0.9477 or
US$=C$1.0551 which compares with Thursday’s North American close of
US$0.9509, or US$=C$1.0516.
The TSX was up 38.25 points Friday morning at 8:40 CDT, to sit at
12,712.60.