Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 10 – The Canadian dollar opened slightly
stronger against its US counterpart on Tuesday, as investors expect it
to trade in a narrow range due to a lack of fresh US or Canadian
economic data, industry watchers said.
With no major Canadian economic data scheduled to be released
until Thursday, traders will be focusing on the Bank of Canada’s semi-
annual Financial System Review later this morning.
Gains seen in commodities, including gold, copper and crude oil,
were supportive of the loonie.
However, continued concerns that the US Federal Reserve could slow
its monetary stimulus as early as next week limited any further gains,
brokers said.
At 8:42 CST Tuesday, the Canadian dollar was at US$0.9410 or
US$=C$1.0626 which compares with Monday’s North American close of
US$0.9403, or US$=C$1.0635.
The TSX was up 19.00 points Tuesday morning at 8:42 CST, to sit at
13,331.78.