By Commodity News Service Canada
Winnipeg, May 24 – The Canadian dollar opened weaker Friday
morning as crude oil declined for the second straight day because of
increasing inventories in the U.S. and an economic slowdown globally,
analysts said.
Being Canada’s biggest export, this has contributed to the
Canadian dollar falling against the rival U.S. counterpart. The
decrease comes a day after the currency made its biggest jump relative
to the U.S. dollar at the close since January.
At 9:21 CDT Friday, the Canadian dollar was at US$0.9676 or
US$=C$1.0334 which compares with Thursday’s North American close of
US$0.9714, or US$=C$1.0294.
The TSX was down 4.46 points Friday morning at 9:21 CDT, to sit at
12,653.63.
