By Commodity News Service Canada
Winnipeg, July 26 – The Canadian dollar opened lower against its
US counterpart on Friday, as it looked for a direction to move in as no
major Canadian or US economic data is set to be released today, market
watchers said.
Traders are positioning themselves ahead of the Federal Reserve’s
meeting next Wednesday. According to economists, it is expected that
the Fed will continue its bond-buying program.
Losses in commodities, including gold, crude oil and copper,
contributed to the loonie’s bearish tone.
At 8:40 CDT Friday, the Canadian dollar was at US$0.9728 or
US$=C$1.0279 which compares with Thursday’s North American close of
US$0.9743, or US$=C$1.0264.
The TSX was down 24.19 points Friday morning at 8:40 CDT, to sit
at 12,644.95.
