Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, December 24 The Canadian dollar was slightly stronger compared to its US counterpart at 8:48 CST Monday, amid light holiday trade, analysts said.

At 8:48 CST Monday, the Canadian dollar was at US$1.0083 or US$=C$0.9918, which compares with Friday’s North American close of US$1.0066 or US$=C$0.9934.

Mixed commodity prices prevented the Canadian currency from moving too far one way or the other, as crude oil and copper were slightly lower, and gold values were higher.

Concerns about the impending US fiscal cliff, as US lawmakers only have a week to come up with a solution to prevent it from coming into effect on January 1, continued to overhang the market.

There was no significant Canadian economic data to report on Monday, and Statistics Canada will not release any more big economic indicators until 2013.

The TSX was up 6.02 points, or 0.05%, at 8:48 CST Monday morning to sit at 12,391.72.