Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 24 – The Canadian dollar opened stronger against
its US counterpart on Friday, underpinned by Canadian economic data
that was in line with economists’ estimates, industry watchers said.
According to Statistics Canada, Canada’s core inflation on a year-
over-year basis in December was 1.2%, which was what trade expectations
were calling for.
Gains seen in commodities, including crude oil and gold, added to
the loonie’s bullish tone.
At 8:36 CST Friday, the Canadian dollar was at US$0.9027 or
US$=C$1.1077 which compares with Thursday’s North American close of
US$0.9010, or US$=C$1.1099.
The TSX was down 49.21 points Friday morning at 8:36 CST, to sit
at 13,883.76.