Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, December 27 – The Canadian dollar opened weaker against
its US counterpart on Friday, amid a lack of fresh Canadian economic
data following the Christmas and Boxing Day holidays, industry watchers
said.
Weighing on the value of the loonie was the Bank of Canada’s (BoC)
recent projection to keep interest rates low for 2014 until the global
economy strengthens further. According to economists, the BoC is not
expected to increase its benchmark interest rate until mid-2015.
However, gains seen in commodities, including crude oil and gold,
limited any further losses.
At 8:50 CST Friday, the Canadian dollar was at US$0.9373 or
US$=C$1.0668 which compares with Tuesday’s North American close of
US$0.9417, or US$=C$1.0619.
The TSX was up 36.86 points Friday morning at 8:50 CST, to sit at
13,554.88.