Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was slightly softer relative to its United States counterpart Thursday morning.

At 9:20 a.m. CDT the Canadian dollar was trading at US$0.7252 or US$1=C$1.3789, which compares with Wednesday’s close of US$0.7262 or US$1=C$1.3771.

Canadian investors increased their holdings of foreign securities by C$12.3 billion in August while foreign investors increased their Canadian investments by C$10.0 billion, according to a report by Statistics Canada. As a result, the country saw a net outflow of C$2.4 billion in August.

Crude oil was firmer, with West Texas Intermediate crude oil up by 0.63 per cent at US$70.83 per barrel.

The TSX was stronger, up 107.00 points at 9:20 CDT to trade at 24,668.20.