By Commodity News Service Canada
Winnipeg, November 13 – The Canadian dollar opened slightly
stronger against its US counterpart on Wednesday, rising from a two-
month low after Finance Minister Jim Flaherty said on Tuesday afternoon
that the federal government will post a budget surplus in 2015,
industry watchers said.
According to Flaherty, there will be a C$3.7 billion budget
surplus in the year starting April 2015, which was higher than the
C$800 million surplus forecast in March.
Gains seen in commodities, including crude oil and gold, added to
the bullish tone.
At 8:37 CST Wednesday, the Canadian dollar was at US$0.9537 or
US$=C$1.0485 which compares with Tuesday’s North American close of
US$0.9530, or US$=C$1.0493.
No major Canadian economic data is scheduled to be released on
Wednesday.
The TSX was down 28.85 points Wednesday morning at 8:37 CST, to
sit at 13,297.19.
