Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 3 – The Canadian dollar opened significantly
stronger against its US counterpart on Monday, underpinned by better-
than-expected Canadian economic data, industry watchers said.
According to Statistics Canada, the Industrial Product Price Index
(IPPI) increased by 0.7% in December, following a 0.2% gain in
November. Economists were expecting the IPPI to rise 0.3%.
Gains seen in commodities, including crude oil and gold, added to
the bullish tone.
At 8:37 CST Monday, the Canadian dollar was at US$0.9043 or
US$=C$1.1058 which compares with Friday’s North American close of
US$0.8978, or US$=C$1.1138.
The TSX was down 36.00 points Monday morning at 8:37 CST, to sit
at 13,658.94.