Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 3 – The Canadian dollar opened weaker against
its US counterpart on Tuesday, as traders position themselves ahead of
Wednesday’s Bank of Canada (BoC) policy statement, where it is expected
that the BoC will keep their overnight rate at one per cent, industry
watchers said.
Concerns that the US Federal Reserve will slow their monetary
stimulus early in 2014 added to the downward pressure.
Losses seen in commodities, including gold and copper, were also
bearish.
At 8:40 CST Tuesday, the Canadian dollar was at US$0.9383 or
US$=C$1.0657 which compares with Monday’s North American close of
US$0.9398, or US$=C$1.0641.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was up 49.19 points Tuesday morning at 8:40 CST, to sit at
13,370.38.