Canadian Dollar And Business Outlook

By Commodity News Service Canada

WINNIPEG, May 15 The Canadian dollar was weaker Friday morning, a broad-based strength in the US dollar internationally and a downturn in crude oil weighed on the currency.
At 9:00 CDT Friday morning the Canadian dollar was at US$0.8302 or C$1.2045 which compares with Thursday’s North American close of US$0.8334, or C$1.1999.
In domestic data, Canada’s manufacturing sales increased by 2.9% in March, hitting C$51.0 billion, according to Statistics Canada data. The increase came following a 2.2% decline the previous month.
StatsCan also reported that net foreign investment in Canadian securities rose to C$22.5 billion in March, which was the largest investment in nearly three years. Meanwhile, Canadian investors reduced their holdings of foreign securities by C$3.2 billion during the month.
The TSX was weaker in early activity, down 28.03 points at 9:00 CDT to sit at 15,000.09.