Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, January 14 The Canadian dollar was trading at a softer level versus its US counterpart at 8:55 CST Monday, as weak factory data from the euro zone weighed on its value, analysts said.

Euro zone factories were less productive in November, and output fell for the third straight month. Traders expected factory output in the euro zone would increase in November.

At 8:55 CST Monday, the Canadian dollar was at US$1.0142 or US$=C$0.9860, which compares with Friday’s North American close of US$1.0158 or US$=C$0.9844.

The Canadian dollar fell, following along with weak US stock markets. Much of the downward action seen in US stock markets was linked to declining Apple stocks, market watchers said.

However, strong commodity prices, including crude oil, gold and copper, helped to slow the decline.

There was no significant Canadian economic data to report on Monday.

The TSX was up 33.39 points, or 0.26%, at 8:55 CST Monday morning to sit at 12,635.57.