Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 23 – The Canadian dollar opened stronger
against its US counterpart on Monday, as some strength continued to
come from the US Federal Reserve’s announcement last Wednesday saying
that they wouldn’t slow monetary stimulus yet, industry watchers said.
Traders are also looking ahead to the release of important
Canadian economic data on Tuesday, analysts said. According to
economists, it’s expected that retail sales for July will increase
0.6%, following a 0.6% decline in June.
However, losses seen in commodities, including gold, copper and
crude oil, limited the loonie’s gains.
At 8:41 CDT Monday, the Canadian dollar was at US$0.9731 or
US$=C$1.0276 which compares with Friday’s North American close of
US$0.9710, or US$=C$1.0299.
No Canadian economic data is scheduled to be released on Monday.
The TSX was up 13.18 points Monday morning at 8:41 CDT, to sit at
12,819.65.