Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 6 – The Canadian dollar opened weaker against
its US counterpart on Monday, undermined by Sunday’s comments from
Canadian Finance Minister Jim Flaherty regarding the loonie, industry
watchers said.
According to the report, Flaherty said there could be further
softening seen in the value of the Canadian dollar, which would help
Canadian manufacturers.
However, gains seen in commodities, including gold and crude oil,
limited any further losses, as did favourable Canadian economic data.
According to Statistics Canada, the industrial product price index
moved 0.1% higher in November, following a 0.3% decline seen in
October.
At 8:49 CST Monday, the Canadian dollar was at US$0.9373 or
US$=C$1.0668 which compares with Friday’s North American close of
US$0.9399, or US$=C$1.0639.
The TSX was down 6.44 points Monday morning at 8:49 CST, to sit at
13,542.42.