Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 4 – The Canadian dollar opened stronger against
its US counterpart on Tuesday, underpinned by growing optimism that the
Keystone XL pipeline could get US approval, industry watchers said.
Further strength came from reports that have the Canadian economy
growing more in 2014 than 2013, brokers said. According to the
International Monetary Fund, Canada’s economy is expected to grow by
2.2% this year, up from 1.7% last year.
Gains seen in commodities, including crude oil and copper, added
to the bullish tone.
At 9:15 CST Tuesday, the Canadian dollar was at US$0.9025 or
US$=C$1.1080 which compares with Monday’s North American close of
US$0.9011, or US$=C$1.1097.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was down 7.34 points Tuesday morning at 9:15 CST, to sit
at 13,478.86.