Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 24 – The Canadian dollar opened weaker against
its US counterpart on Tuesday, amid quiet trading ahead of the
Christmas and Boxing Day holidays, industry watchers said.
Stronger-than-expected US economic data did create some weakness
for the loonie, analysts said. According to the US Department of
Commerce, orders for US durable goods were up 3.5% in November, beating
trade expectations of a 2% increase.
However, gains seen in commodities, including gold, copper and
crude oil, limited any further losses.
At 8:41 CST Tuesday, the Canadian dollar was at US$0.9412 or
US$=C$1.0624 which compares with Monday’s North American close of
US$0.9424, or US$=C$1.0611.
The TSX was up 24.74 points Tuesday morning at 8:41 CST, to sit at
13,472.44.