Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 2 – The Canadian dollar opened weaker against
its US counterpart on Monday, falling to a two-year low early in the
session as better-than-expected US economic data was bearish, market
watchers said.
Markit Economics said their US manufacturing purchasing managers’
index for November rose to 54.7 from 51.8 in October. Trade
expectations were calling for no change from the preliminary reading of
54.3, investors said.
Losses seen in commodities, including gold and copper, added to
the loonie’s weakness.
At 8:39 CST Monday, the Canadian dollar was at US$0.9399 or
US$=C$1.0639 which compares with Friday’s North American close of
US$0.9416, or US$=C$1.0620.
No major Canadian economic data is scheduled to be released on
Monday.
The TSX was up 11.13 points Monday morning at 8:39 CST, to sit at
13,406.53.