Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, February 27 The Canadian dollar was lower compared to its US counterpart at 9:10 CST Wednesday, as political concerns in Italy had traders shying away from risk, including the loonie, analysts said.

At 9:10 CST Wednesday, the Canadian dollar was at US$0.9735 or US$=C$1.0272, which compares with Tuesday’s North American close of US$0.9743 or US$=C$1.0264.

Weak commodity prices, including crude oil, gold and copper values, also helped push the Canadian dollar to lower ground, traders said.

Statistics Canada reported that private and public organizations, along with the housing sector, reported they anticipate investment in construction and machinery equipment to reach C$398.2 billion in 2013, up 1.7% from 2012. This would be the smallest increase since the recession in 2009, StatsCan said.

The TSX was up 2.02 points, or 0.02%, at 9:10 CST Wednesday morning to sit at 12,662.46.