Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, November 22 – The Canadian dollar opened weaker against
its US counterpart on Friday, undermined by weaker-than-expected
Canadian inflation data, industry watchers said.
According to Statistics Canada, the year-over-year consumer price
index for October rose 0.7%, which was lower than the 0.9% increase
economists expected.
However, strong Canadian retail sales in September limited losses.
Statistics Canada said sales were up 1.0% to C$40.7 billion during the
month, surpassing trade expectations of a 0.3% increase.
Gains in commodities, including gold and copper, also provided
some support.
At 8:44 CST Friday, the Canadian dollar was at US$0.9490 or
US$=C$1.0537 which compares with Thursday’s North American close of
US$0.9505, or US$=C$1.0521.
The TSX was up 25.36 points Friday morning at 8:44 CST, to sit at
13,500.69.