Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 23 – The Canadian dollar opened stronger
against its US counterpart on Monday, underpinned by better-than-
expected Canadian economic data, industry watchers said.
According to Statistics Canada, the gross domestic product grew by
0.3% in October, beating trade expectations of a 0.2% increase.
Statistics Canada also reported that the average weekly earnings
of non-farm employees were up 0.5% in October to C$918.
However, losses seen in commodities, including gold, copper and
crude oil, limited any further gains.
At 8:44 CST Monday, the Canadian dollar was at US$0.9432 or
US$=C$1.0602 which compares with Friday’s North American close of
US$0.9391, or US$=C$1.0648.
The TSX was up 13.66 points Monday morning at 8:44 CST, to sit at
13,413.26.