By Commodity News Service Canada
Winnipeg, October 15 – The Canadian dollar opened weaker against
its US counterpart on Tuesday, undermined by the continuing partial
shutdown of the US government, which is now in its third week, industry
watchers said.
Losses seen in commodities, including gold, copper and crude oil,
added to the bearish tone.
However, weak US economic data limited losses, analysts said.
According to the New York Federal Reserve, the manufacturing purchasing
managers’ index fell to 1.52 in October from 6.29 in September.
Economists had forecast the index to move up to 7.00.
At 8:38 CDT Tuesday, the Canadian dollar was at US$0.9646 or
US$=C$1.0366 which compares with Friday’s North American close of
US$0.9658, or US$=C$1.0354.
No major Canadian economic data is scheduled to be released on
Tuesday.
The TSX was down 1.97 points Tuesday morning at 8:38 CDT, to sit
at 12,890.14.
