Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, August 26 – The Canadian dollar opened weaker against
its US counterpart on Monday morning, before gaining back some ground
after the release of weaker-than-expected US economic data, market
watchers said.
According to the US Department of Commerce, durable goods orders
declined 7.3% in July after a 3.9% gain in June. Economists had
originally forecast a 4% decrease for the month.
Gains seen in commodities, including gold and copper, also helped
to limit the loonie’s losses.
At 8:38 CDT Monday, the Canadian dollar was at US$0.9515 or
US$=C$1.0509 which compares with Friday’s North American close of
US$0.9523, or US$=C$1.0501.
No major Canadian economic data is scheduled to be released on
Monday.
The TSX was up 43.63 points Monday morning at 8:38 CDT, to sit at
12,805.93.