Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker Thursday morning, losing ground relative to its United States counterpart for the seventh session in a row.

At 9:23 a.m. CDT the Canadian dollar was trading at US$0.7265 or US$1=C$1.3765, which compares with Wednesday’s close of US$0.7305 or US$1=C$1.3690.

The annual rate of inflation in the United States slowed to 2.4 per cent in September, from 2.5 per cent the previous month, according to a report from the U.S. Labor Department. That marked the smallest year-on-year rise since February 2021.

Crude oil was stronger, with West Texas Intermediate crude oil up by 1.58 per cent at US$74.40 per barrel.

The TSX was firm, rising 37.13 points at 9:23 CDT to trade at 24,262.03.