Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, October 17 – The Canadian dollar opened stronger against
its US counterpart on Thursday, underpinned by Wednesday night’s news
that a deal to end the partial shutdown of the US government and to
extend the US debt ceiling had been agreed upon, industry watchers
said.
Reports that the US Federal Reserve would likely not slow its
monetary stimulus this month due to the 16 day government shutdown was
also bullish, analysts said.
However, losses seen in commodities, including crude oil and
copper, limited the loonie’s gains.
At 8:38 CDT Thursday, the Canadian dollar was at US$0.9703 or
US$=C$1.0306 which compares with Wednesday’s North American close of
US$0.9677, or US$=C$1.0334.
No major Canadian economic data is scheduled to be released on
Thursday.
The TSX was down 4.93 points Thursday morning at 8:38 CDT, to sit
at 12,952.28.