Canadian dollar and business outlook

By Commodity News Service Canada

Sept. 21 (CNS Canada) – The Canadian dollar was weaker Thursday morning, trading at US$0.8091, or C$1.2359 at 8:40 a.m. CDT. It closed Wednesday at US$0.8148 or C$1.2273. News of a potential interest rate hike in the U.S. by year end helped support the U.S. dollar, as lower oil prices dragged down the loonie.

WTI crude was down 27 cents U.S. at US$50.42.

A survey by the Canadian Federation of Independent Business suggests 85 per cent of small business owners believe the federal government’s proposed income tax changes will harm middle class small business owners.

Many industry analysts expect the United States Department of Commerce to rule against Bombardier in its trade war against Boeing. The Commerce department is expected to rule Sept. 26 on whether it will impose countervailing duties on Bombardier’s C Series airplanes. Boeing says Bombardier sold the C Series planes at below market prices while benefiting from Canadian and British subsidies.

The S&P/TSX was down 11.35 points to 15,378.25 at 8:45 a.m. CDT.