Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 3 – The Canadian dollar opened stronger against
its US counterpart on Friday, as a lack of fresh economic news post-
holidays has the loonie continuing to trade in a narrow range, industry
watchers said.
The Canadian dollar did get a boost from the gains seen by gold,
participants said.
Traders are also positioning themselves ahead of comments from US
Federal Reserve Chairman Ben Bernanke in the afternoon, analysts said.
The Fed cut US$10 billion off its US$85 billion of monthly bond
purchases in December.
At 8:38 CST Friday, the Canadian dollar was at US$0.9415 or
US$=C$1.0621 which compares with Thursday’s North American close of
US$0.9369, or US$=C$1.0673.
No major Canadian economic data is scheduled to be released on
Friday.
The TSX was down 38.65 points Friday morning at 8:38 CST, to sit
at 13,555.54.