By Commodity News Service Canada
Winnipeg, November 18 – The Canadian dollar opened stronger
against its US counterpart on Monday, underpinned by strong Canadian
economic data, market watchers said.
According to Statistics Canada, foreign investment in Canadian
securities increased to C$8.4 billion in September, following a
slowdown to C$2.1 billion in August.
Gains seen in commodities, including gold and copper, added to the
bullish tone.
At 8:39 CST Monday, the Canadian dollar was at US$0.9600 or
US$=C$1.0416 which compares with Friday’s North American close of
US$0.9572, or US$=C$1.0447.
Traders will also be looking ahead to Bank of Canada Senior Deputy
Governor Tiff Macklem’s panel discussion on risk management and
financial reform later Monday morning.
The TSX was up 3.25 points Monday morning at 8:39 CST, to sit at
13,485.82.
