Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 5 – The Canadian dollar opened lower against
its US counterpart on Wednesday, undermined by weaker-than-expected
Canadian economic data, industry watchers said.
According to Statistics Canada, building permits declined by 4.1%
to C$6.5 billion in December, following a 6.6% decrease seen in
November. Economists were expecting permits to be up 1.5% in December.
However, gains seen in commodities, including gold, copper and
crude oil, limited any further losses.
At 8:38 CST Wednesday, the Canadian dollar was at US$0.9011 or
US$=C$1.1097 which compares with Tuesday’s North American close of
US$0.9024, or US$=C$1.1081.
The TSX was up 12.33 points Wednesday morning at 8:38 CST, to sit
at 13,516.81.