Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, October 2 – The Canadian dollar opened weaker against
its US counterpart on Wednesday, as the loonie remained in a narrow
trading range as the partial shutdown of the US government continued
into its second full day, industry watchers said.
Losses seen in commodities, including gold, copper and crude oil,
added to the bearish tone.
However, the Canadian dollar did find some support from weaker-
than-expected US economic data, analysts said. According to an ADP
employment report, 166,000 private sector jobs were added in September,
which was lower than economists’ expectations of 180,000.
At 8:39 CDT Wednesday, the Canadian dollar was at US$0.9671 or
US$=C$1.0340 which compares with Tuesday’s North American close of
US$0.9685, or US$=C$1.0325.
No Canadian economic data is scheduled to be released on
Wednesday.
The TSX was down 44.25 points Wednesday morning at 8:39 CDT, to
sit at 12,803.19.