Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, February 12 – The Canadian dollar opened stronger
against its US counterpart on Wednesday, underpinned by a favourable
outlook from Tuesday afternoon’s federal budget, industry watchers
said.
According to Finance Minister Jim Flaherty, Canada’s deficit is
forecast to narrow to C$2.9 billion in 2014/15, leading to an expected
budget surplus of C$6.4 billion in 2015/16.
Gains seen in commodities, including crude oil, gold, and copper,
added to the bullish tone.
At 8:37 CST Wednesday, the Canadian dollar was at US$0.9095 or
US$=C$1.0995 which compares with Tuesday’s North American close of
US$0.9077, or US$=C$1.1017.
The TSX was up 38.65 points Wednesday morning at 8:37 CST, to sit
at 13,919.64.