Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, December 13 – The Canadian dollar was trading at a stronger level compared to its US counterpart at 8:55 CST Thursday, as Wednesday’s news that the US Federal Reserve will implement more stimulus measures continued to support its value, analysts said.

At 8:55 CST Thursday, the Canadian dollar was at US$1.0166 or US$=C$0.9837, which compares with Wednesday’s North American close of US$1.0155 or US$=C$0.9847.

However, soft commodity prices, including crude oil, gold and copper, helped to limit the Canadian currency’s upside potential.

National net worth increased by more than C$9 billion to C$6.8 trillion in the third quarter, translating to C$194,100 on a per capita basis, Statistics Canada reported.

The TSX was down 46.86 points, or 0.38%, at 8:55 CST Thursday morning to sit at 12,306.23.