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Canadian Dollar And Business Outlook

| 1 min read

By Commodity News Service Canada

WINNIPEG, February 11 The Canadian dollar was trading at a softer level compared to its US counterpart at 9:00 CST Monday, and remained below parity.

At 9:00 CST Monday, the Canadian dollar was at US$0.9922 or US$=C$1.0079, which compares with Friday’s North American close of US$0.9973 or US$=C$1.0027.

Weak commodity prices helped the Canadian dollar move to lower ground, analysts said. Crude oil, gold and copper values were all softer Monday morning.

Soft Canadian trade and employment data that was released on Friday also continued to put downward pressure on the value of the Canadian dollar.

There was no new significant Canadian economic data to report on Monday morning. Traders were looking ahead to Friday’s Canadian manufacturing data and Wednesday’s US retail sales figures.

The TSX was down 33.76 points, or 0.26%, at 9:00 CST Monday morning to sit at 12,767.47.