Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 7 – The Canadian dollar opened significantly
lower against its US counterpart on Tuesday, undermined by weaker-than-
expected Canadian economic data, industry watchers said.
According to Statistics Canada, Canada’s trade deficit with the
world went from C$908 million in October to C$940 million in November,
as imports increased by 0.1% and exports were unchanged. Economists
were expecting Canada’s deficit to narrow to C$100 million in November.
Losses seen in commodities, including gold and copper, added to
the bearish tone.
At 8:43 CST Tuesday, the Canadian dollar was at US$0.9336 or
US$=C$1.0711 which compares with Monday’s North American close of
US$0.9388, or US$=C$1.0652.
The TSX was up 75.09 points Tuesday morning at 8:43 CST, to sit at
13,570.63.