Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 16 – The Canadian dollar was stronger against
its US counterpart on Monday, underpinned by reports that Lawrence
Summers has decided to withdraw from the race to replace US Federal
Reserve Chairman Ben Bernanke when he departs, industry watchers said.
Further strength came from a Statistics Canada report that said
foreign investors purchased C$6.1 billion of Canadian securities in
July, after a C$15.4 billion divestment in June.
Gains seen in commodities, including gold and copper, added to the
loonie’s bullish tone.
At 8:36 CDT Monday, the Canadian dollar was at US$0.9711 or
US$=C$1.0340 which compares with Friday’s North American close of
US$0.9665, or US$=C$1.0297.
The TSX was up 69.56 points Monday morning at 8:36 CDT, to sit at
12,792.96.