Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, August 18 – The Canadian dollar held steady to
slightly weaker against its US counterpart Tuesday morning as crude
oil prices stayed relatively stable, but low.

At 8:45 a.m. CDT the Canadian dollar was at US$0.7640 or C$1.3089
which compares with Monday’s North American close of US$0.7642, or
C$1.3085.

Crude oil prices have dropped at an almost six-and-a-half year
low amid concerns over a global supply glut and a lack of demand for
the commodity.

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

Analysts are looking to a US Federal Reserve policy meeting on
Wednesday for indications on where US interest rates will be heading.

The TSX was weaker in early activity, down 26.35 points at 8:45
a.m. CDT to sit at 14,251.53.