Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 11 – The Canadian dollar opened slightly higher
against its US counterpart on Wednesday, underpinned by the US dollar’s
inability to break through the key technical level of C$1.0700 last
week, industry watchers said.
Gains seen in commodities, including gold and copper, added to the
loonie’s bullish tone.
However, continued concerns that the US Federal Reserve could slow
its monetary stimulus as early as next week limited any further gains.
At 8:43 CST Wednesday, the Canadian dollar was at US$0.9435 or
US$=C$1.0598 which compares with Tuesday’s North American close of
US$0.9431, or US$=C$1.0603.
No major Canadian economic data is scheduled to be released on
Wednesday.
The TSX was up 36.75 points Wednesday morning at 8:43 CST, to sit
at 13,287.26.