Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, August 12 – The Canadian dollar gained some ground
against its US counterpart Wednesday morning recovering alongside
crude oil prices after sharp losses Tuesday.

At 8:50 a.m. CDT the Canadian dollar was at US$0.7691 or C$1.3002
which compares with Tuesday’s North American close of US$0.7631, or
C$1.3104.

September crude oil futures were up 0.61 cents to sit at US$43.69
a barrel, and up 0.50 cents to US$44.37 in the October contract at
8:50 CDT.

No significant economic data was released by Statistics Canada
on Wednesday.

The TSX was weaker in early activity, down 124.22 points at 8:50
a.m. CDT to sit at 14,290.45.