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Canadian dollar and business outlook

| 1 min read

By Phil Franz-Warkentin

 

Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger Friday morning, as market participants reacted to steady inflation data ahead of the holidays.

At 8:54 a.m. CST Friday morning the Canadian dollar was trading at US$0.7556 or US$1=C$1.3235, which compares with Thursday’s close of US$0.7513 or US$1=C$1.3311.

Canada’s real gross domestic product (GDP) was unchanged for the third consecutive month in October, according to a report from Statistics Canada. Early estimates for November point to a small 0.1 per cent increase in the GDP.

Most Canadian markets and government offices will be closed Dec. 25 and 26 for Christmas and Boxing Day.

Crude oil was firmer, with West Texas Intermediate crude oil up by 1.34 per cent at US$74.88 per barrel.

The TSX was stronger in early trade, gaining 150.48 points at 8:54 CST, trading at 20,916.21 points.