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Canadian Dollar And Business Outlook

| 1 min read

By Commodity News Service Canada

WINNIPEG, January 8 The Canadian dollar was trading at a softer level versus its US counterpart at 8:50 CST Tuesday, following outside equity markets, analysts said.

At 8:50 CST Tuesday, the Canadian dollar was at US$1.0135 or US$=C$0.9867, which compares with Monday’s North American close of US$1.0145 or US$=C$0.9857.

Continued concerns about the economic situation in the euro zone due to soft employment data also put downward pressure on the Canadian dollar. The euro zone jobless rate was up to 11.8% in December, from 11.7% in November.

However, strong commodity prices, including crude oil and gold, helped to slow the decline, market watchers noted.

There was no significant Canadian economic data to report on Tuesday.

The TSX was down 11.31 points, or 0.09%, at 8:50 CST Tuesday morning to sit at 12,488.24.