Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, August 24 – The Canadian dollar fell to an 11-year
low against its US counterpart Monday morning as weakness in China’s
stock market paved the way for losses in other markets and currencies.

At 8:50 a.m. CDT the Canadian dollar was at US$0.7549 or C$1.3247
which compares with Friday’s North American close of US$0.7594, or
C$1.3247.

Crude oil prices dropped four per cent on Monday, as global stock
markets started falling with China in the lead.

Chinese shares took a nine per cent dive on Monday.

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

The TSX was weaker in early activity, down 767.61 points at 8:50
a.m. CDT to sit at 12,706.06.