Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, April 24 The Canadian dollar was nearly unchanged compared to its US counterpart Wednesday morning.

Activity was choppy amid optimism that Europe will implement new measures to stimulate economic growth and signs that the economic recovery in the US is slowing.

At 8:57 CDT Wednesday, the Canadian dollar was at US$0.9743 or US$=C$1.0264, which compares with Tuesday’s North American close of US$0.9745 or US$=C$1.0262.

Some support came from strong commodity prices, while speculative selling undermined the value of the Canadian currency.

There was no significant Canadian economic data to report Wednesday morning.

The TSX was up 36.57 points, or 0.30%, at 8:57 CDT Wednesday morning to sit at 12,127.51.