By Commodity News Service Canada
Winnipeg, November 28 – The Canadian dollar opened stronger
against its US counterpart on Thursday, underpinned by favourable
Canadian economic data, industry watchers said
According to a Statistics Canada report, the current deficit
narrowed by C$0.5 billion in the third-quarter to C$15.5 billion.
Gains seen in commodities, including gold and copper, added to the
loonie’s bullish tone.
However, news that Canada’s Industrial Product Price Index (IPPI)
declined by 0.3% in October limited any further gains.
At 8:40 CST Thursday, the Canadian dollar was at US$0.9445 or
US$=C$1.0587 which compares with Wednesday’s North American close of
US$0.9438, or US$=C$1.0595.
The TSX was up 21.05 points Thursday morning at 8:40 CST, to sit
at 13,383.11.
