Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 16 – The Canadian dollar opened slightly
stronger against its US counterpart on Monday, as the loonie is
expected to trade in a narrow range until Wednesday’s announcement from
the US Federal Reserve on whether it will slow its monetary stimulus,
industry watchers said.
Gains seen in commodities, including copper and crude oil, were
bullish.
However, poor Canadian housing data limited any further gains,
brokers said. According to the Canadian Real Estate Association, home
sales in November were down 0.1%.
At 8:47 CST Monday, the Canadian dollar was at US$0.9442 or
US$=C$1.0590 which compares with Friday’s North American close of
US$0.9438, or US$=C$1.0595.
The TSX was up 61.03 points Monday morning at 8:47 CST, to sit at
13,186.73.