Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 8 – The Canadian dollar opened weaker against
its US counterpart on Wednesday, falling to a new 44-month low amid
stronger-than-expected US economic data, industry watchers said.
According to an Automatic Data Processing Inc. (ADP) report, US
private sector jobs increased by 238,000 in December, making it the
highest ADP estimate since November 2012. Economists were expecting the
report to show a 200,000 job increase.
Losses seen in commodities, including crude oil and gold, added to
the bearish tone.
At 8:40 CST Wednesday, the Canadian dollar was at US$0.9254 or
US$=C$1.0806 which compares with Tuesday’s North American close of
US$0.9283, or US$=C$1.0772.
No major Canadian economic data is scheduled to be released on
Wednesday.
The TSX was up 18.74 points Wednesday morning at 8:40 CST, to sit
at 13,615.67.