Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 20 – The Canadian dollar opened stronger against
its US counterpart on Monday, reversing some of last week’s losses as
US markets are closed due to the Martin Luther King Day federal
holiday, industry watchers said.
The loonie was strengthened by the US dollar’s inability to break
through resistance seen at the key technical level of C$1.1000 on
Friday, brokers said.
Gains seen in commodities, including gold and crude oil, added to
the bullish tone.
At 8:43 CST Monday, the Canadian dollar was at US$0.9131 or
US$=C$1.0951 which compares with Friday’s North American close of
US$0.9111, or US$=C$1.0975.
No major Canadian economic data is scheduled to be released on
Monday.
The TSX was up 43.55 points Monday morning at 8:43 CST, to sit at
13,931.56.