Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, November 4 – The Canadian dollar opened stronger against
its US counterpart on Monday, continuing to build off last week’s
strong Canadian economic data, industry watchers said.
Further strength came from expectations that Friday’s Canadian
jobs report will show an increase in employment for October, analysts
said. According to economists, it’s expected that 11,000 jobs were
created during the month.
However, losses seen in commodities, including crude oil and
copper, limited the loonie’s gains.
At 8:42 CDT Monday, the Canadian dollar was at US$0.9602 or
US$=C$1.0414 which compares with Friday’s North American close of
US$0.9590, or US$=C$1.0427.
No major Canadian economic data is scheduled to be released on
Monday.
The TSX was up 28.27 points Monday morning at 8:42 CDT, to sit at
13,365.73.