Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly firmer Thursday morning, as investors continued to weigh the likelihood of interest rate adjustments from central banks over the next few weeks.

At 8:39 a.m. CST the Canadian dollar was trading at US$0.7401 or US$1=C$1.3512, which compares with Wednesday’s close of US$0.7395 or US$1=C$1.3522.

Investment in building construction in Canada increased by 1.7 per cent in November, hitting C$19.8 billion, according to a report from Statistics Canada. The residential sector was up by 2.2 per cent while the non-industrial sector grew by 0.4 per cent.

Crude oil was higher, with West Texas Intermediate crude oil up by 1.01 per cent at US$73.29 per barrel.

The TSX was stronger in early trade, gaining 64.64 points at 8:39 CST, trading at 20,760.55 points.