Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, November 5 – The Canadian dollar opened weaker against
its US counterpart on Tuesday, as traders position themselves ahead of
the Institute for Supply Management’s index for the US service sector,
which is scheduled to be released later in the morning, industry
watchers said.
Losses seen in commodities, including gold and crude oil, were
also bearish.
However, expectations that Friday’s Canadian employment report
will show 11,000 jobs were created in October provided some support for
the loonie.
At 8:42 CST Tuesday, the Canadian dollar was at US$0.9575 or
US$=C$1.0443 which compares with Monday’s North American close of
US$0.9599, or US$=C$1.0418.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was down 10.73 points Tuesday morning at 8:42 CST, to sit
at 13,351.05.