Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 6 – The Canadian dollar opened lower against
its US counterpart on Thursday, undermined by weaker-than-expected
Canadian economic data, industry watchers said.
According to Statistics Canada, Canada’s trade deficit with the
world widened to C$1.7 billion in December from C$1.5 billion in
November. Economists were expecting the deficit to shrink to C$650
million in December.
However, gains seen in commodities, including gold, copper and
crude oil, limited any further losses.
At 8:40 CST Thursday, the Canadian dollar was at US$0.9000 or
US$=C$1.1111 which compares with Wednesday’s North American close of
US$0.9025, or US$=C$1.1080.
The TSX was up 32.96 points Thursday morning at 8:40 CST, to sit
at 13,592.65.