Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 26 – The Canadian dollar opened flat against
its US counterpart on Thursday, amid slow trading as investors await a
decision from the US government regarding the country’s fiscal
situation, industry watchers.
Gains seen in commodities, including copper and crude oil, gave
the loonie some support.
However, gains were erased by favourable US jobless claims data,
analysts said. According to the US Department of Labour, claims dropped
by 5,000 during the week ended September 21 to a seasonally adjusted
305,000. Economists were expecting an increase to 325,000.
At 8:42 CDT Thursday, the Canadian dollar was at US$0.9697 or
US$=C$1.0312 which compares with Wednesday’s North American close of
US$0.9696, or US$=C$1.0313.
No major Canadian economic data is scheduled to be released on
Thursday.
The TSX was down 30.97 points Thursday morning at 8:42 CDT, to sit
at 12,867.68.