Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, February 10 (CNS Canada) – The Canadian dollar weakened against its US counterpart on Wednesday, as Federal Reserve chair, Janet Yellen, reassured US Congress that the country will likely continue to see moderate growth.

The news pushed down the Canadian dollar, which had been supported by a string of unsatisfying US domestic data.

At 8:40 a.m. CST the Canadian dollar was at US$0.7175 or C$1.3937 which compares with Tuesday’s North American close of US$0.7205, or C$1.3879.

In Canadian domestic data, on July 1, 2015, 7 in 10 Canadians, or 25,164,100 people, were living in a census metropolitan area (CMA). More than 1 in 3 Canadians made their home in Canada’s three largest CMAs—Toronto, Montréal and Vancouver, Statistics Canada said in a report on Wednesday.

The TSX was stronger in early activity, up 32.49 points at 8:40 a.m. CST to sit at 12,315.14.