Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 28 – The Canadian dollar opened significantly
weaker against its US counterpart on Tuesday, falling to its lowest
level since July 2009 amid worries about currencies in emerging
markets, industry watchers said.
Spillover from the losses seen in gold added to the bearish tone,
brokers said.
Traders are also looking ahead to the US Federal Reserve’s
interest rate announcement on Wednesday and to whether they will taper
their monthly bond-buying program for a second consecutive month.
At 9:00 CST Tuesday, the Canadian dollar was at US$0.8961 or
US$=C$1.1159 which compares with Monday’s North American close of
US$0.8999, or US$=C$1.1112.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was up 53.88 points Tuesday morning at 9:00 CST, to sit at
13,636.17.