Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 10 – The Canadian dollar opened weaker against
its US counterpart on Monday, undermined by disappointing Canadian
economic data, industry watchers said.
According to the Canada Mortgage and Housing Corp., Canadian
housing starts were down 3.7% to an annual rate of 180,248 units in
January. Economists were expecting the annual rate to be 185,000 units
during the month.
However, gains seen in commodities, including gold, crude oil, and
copper, limited any further losses.
At 8:38 CST Monday, the Canadian dollar was at US$0.9047 or
US$=C$1.1053 which compares with Friday’s North American close of
US$0.9059, or US$=C$1.1039.
The TSX was 11.38 points Monday morning at 8:38 CST, to sit at
13,797.88.