Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, February 15 The Canadian dollar was trading at a weaker level versus its US counterpart at 8:55 CST Friday, as soft Canadian manufacturing data weighed on its value, analysts said.

According to Statistics Canada, manufacturing sales declined 3.1% to C$48 billion in December 2012, the largest decline since May 2009. Traders expected a 0.8% decline.

At 8:55 CST Friday, the Canadian dollar was at US$0.9931 or US$=C$1.0069, which compares with Thursday’s North American close of US$0.9988 or US$=C$1.0012.

Losses seen in commodities, including crude oil, copper and gold, also spilled over to bring the Canadian currency to lower ground.

The TSX was down 13.93 points, or 0.11%, at 8:55 CST Friday morning to sit at 12,707.86.