Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 17 – The Canadian dollar opened stronger
against its US counterpart on Tuesday, underpinned by stronger-than-
expected Canadian economic data, industry watchers said.
According to Statistics Canada, manufacturing sales were up 1.7%
in July to C$49.5 billion, following a 0.1% drop in June. July’s
increase was much higher than the 0.5% gain economists had forecast.
Further strength came from disappointing US economic data. Reports
said the US consumer price index increased just 0.1% in August, down
from the 0.2% gain in July, analysts said.
Losses seen in commodities, including crude oil and gold, limited
the loonie’s gains.
At 8:59 CDT Tuesday, the Canadian dollar was at US$0.9699 or
US$=C$1.0310 which compares with Monday’s North American close of
US$0.9685, or US$=C$1.0325.
The TSX was up 16.82 points Tuesday morning at 8:59 CDT, to sit at
12,833.70.