Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 22 – The Canadian dollar opened slightly
stronger against its US counterpart on Wednesday, as traders position
themselves ahead of the Bank of Canada’s interest rate announcement at
9:00 CST, industry watchers said.
The loonie found some strength from the US dollar’s inability to
settle above resistance at the key technical level of C$1.1000 on
Tuesday, analysts said.
Gains seen in commodities, including copper and crude oil, added
to the bullish tone.
At 8:31 CST Wednesday, the Canadian dollar was at US$0.9119 or
US$=C$1.0966 which compares with Tuesday’s North American close of
US$0.9114, or US$=C$1.0972.
The TSX was up 10.44 points Wednesday morning at 8:31 CST, to sit
at 13,962.21.