Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 30 – The Canadian dollar opened stronger
against its US counterpart on Monday, underpinned by better-than-
expected Canadian economic data, industry watchers said.
According to Statistics Canada, the gross domestic product
increased by 0.6% in July, following June’s decline of 0.5%. July’s
growth was above the 0.5% gain that economists had forecast.
However, losses seen in commodities, including copper, gold and
crude oil, limited the loonie’s gains.
At 8:35 CDT Monday, the Canadian dollar was at US$0.9719 or
US$=C$1.0289 which compares with Friday’s North American close of
US$0.9706, or US$=C$1.0303.
The TSX was down 102.44 points Monday morning at 8:35 CDT, to sit
at 12,741.64.