Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, November 1 – The Canadian dollar opened weaker against
its US counterpart on Friday, reversing the previous session’s gains
due to a lack of fresh US or Canadian economic news to end the week,
industry watchers said.
Losses seen in commodities, including gold and crude oil, were
bearish.
However, strong Chinese economic data did manage to limit losses,
analysts said. According to the China Federation of Logistics and
Purchasing, the purchasing manager’s index in October came in at 51.4
points, up from 51.1 points in September.
At 8:40 CDT Friday, the Canadian dollar was at US$0.9581 or
US$=C$1.0437 which compares with Thursday’s North American close of
US$0.9590, or US$=C$1.0427.
No major Canadian economic data is scheduled to be released on
Friday.
The TSX was up 6.05 points Friday morning at 8:40 CDT, to sit at
13,367.31.