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Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, January 10 (CNS Canada) – The Canadian dollar was
weaker against its U.S. counterpart on Wednesday morning, as poor
domestic building data weighed on the loonie.
Building permits in Canada dropped 7.7 per cent on a
seasonally-adjusted basis to C$7.66 billion in November. Building
permits are designed to give analysts an early indication of
construction activity in the country and are based on a survey of
approximately 95% of Canada’s population.
Gains in crude oil prices, gold bullion and natural gas tempered
the declines.
At 9:05 CST Wednesday morning the Canadian dollar was at
US$0.8006 or C$1.2491 which compares with Tuesday’s North American
close of US$0.8030 or C$1.2454.
At 9:05 CST Wednesday morning, the TSX was up 1.59 points, or
0.01%, at 16,319.24.

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