Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 10 – The Canadian dollar opened significantly
lower against its US counterpart on Friday, falling by more than three
quarters of a cent amid weaker-than-expected Canadian economic data,
industry watchers said.
According to Statistics Canada, employment was down by 46,000 in
December, which compares to the 14,000 job increase economists were
expecting. The unemployment rate also increased from 6.9% to 7.2%
during the month.
Further weakness came from a dip seen in the US unemployment rate,
brokers said. Despite seeing fewer jobs created in December than
expected, the US Department of Labour said the unemployment rate
dropped from 7.0% to 6.7%.
At 8:39 CST Friday, the Canadian dollar was at US$0.9138 or
US$=C$1.0943 which compares with Thursday’s North American close of
US$0.9215, or US$=C$1.0852.
The TSX was up 51.74 points Friday morning at 8:39 CST, to sit at
13,681.15.