Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, April 8 The Canadian dollar was lower compared to its US counterpart at 9:02 CDT Monday, as it continued to be to undermined by Friday’s weak US and Canadian jobs data, analysts said.

At 9:09 CDT Monday, the Canadian dollar was at US$0.9802 or US$=C$1.0202, which compares with Friday’s North American close of US$0.9839 or US$=C$1.0164.

The losses seen in the Canadian currency were limited by spillover support from the advances seen in crude oil and gold prices.

Traders were being cautious ahead of two major reports from the Bank of Canada. The Bank of Canada Business Outlook Survey and Senior Loan Officer Survey will both be released later Monday.

There was no new Canadian economic data to report Monday morning.

The TSX was down 33.55 points, or 0.27%, at 9:09 CDT Monday morning to sit at 12,298.30.