Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 14 – The Canadian dollar opened significantly
weaker against its US counterpart on Tuesday, falling more than half a
cent amid stronger-than-expected US economic data, industry watchers
said.
According to the US Department of Commerce, retails sales were up
0.2% in December, beating economists’ expectations of a 0.1% increase.
Losses seen in commodities, including gold and copper, added to
the bearish tone.
At 8:38 CST Tuesday, the Canadian dollar was at US$0.9167 or
US$=C$1.0908 which compares with Monday’s North American close of
US$0.9220, or US$=C$1.0846.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was down 46.78 points Tuesday morning at 8:38 CST, to sit
at 13,728.26.