By Commodity News Service Canada
Winnipeg, October 25 – The Canadian dollar opened weaker against
its US counterpart on Friday, undermined by Wednesday’s Bank of Canada
announcement that said inflation rates would remain below their 2%
target longer than originally thought, market watchers said.
Concerns that China’s central bank could raise interest levels in
the near-term, which could slow global economic growth, were bearish,
analysts said.
Losses seen in commodities, including gold and copper, also
weighed on the value of the Canadian dollar.
At 8:40 CDT Friday, the Canadian dollar was at US$0.9572 or
US$=C$1.0447 which compares with Thursday’s North American close of
US$0.9592, or US$=C$1.0425.
No major Canadian economic data is scheduled to be released on
Friday.
The TSX was up 0.78 points Friday morning at 8:40 CDT, to sit at
13,325.53.
