Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly softer Thursday morning.

At 9:15 a.m. CDT the Canadian dollar was trading at US$0.7235 or US$1=C$1.3822, which compares with Wednesday’s close of US$0.7242 or US$1=C$1.3809.

Canadian manufacturing activity slowed in July, with the S&P Global Manufacturing Purchasing Managers’ Index (PMI) dipping to 47.8 points from 49.3 in June. That marked the lowest level since December and the 15th straight month below the 50.0 no-change mark.

Crude oil was firm in early activity, with West Texas Intermediate crude oil up by 0.33 per cent at US$78.17 per barrel.

The TSX was weaker, down by 204.88 points at 22,905.93 at 9:15 CDT.