Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, August 26 – The Canadian dollar strengthened against
its US counterpart Wednesday morning, still recovering from
turbulence earlier in the week. Analysts say the loonie could be in
for a rocky day similar to Tuesday.

At 9:35 a.m. CDT the Canadian dollar was at US$0.7515 or C$1.3307
which compares with Tuesday’s North American close of US$0.7493, or
C$1.3346.

On Tuesday China’s central bank cut interest rates, which lent
support to other markets in early activity, but the loonie handed
back those gains by the end of the day.

In Canadian economic data, the volume of rail freight carried
in Canada totaled 29.8 million tonnes in June, down 2.4 per cent from
the same month a year earlier, Statistics Canada said in a report
on Wednesday.

And in dairy statistics, consumers purchased 231,567 kilolitres
of milk and cream in June, down three per cent from June 2014.

Sales of milk decreased 3.4 per cent from the same month a year
earlier to 202,365 kilolitres in June, while cream sales fell to 29,
202 kilolitres, StatsCan says.

The TSX was weaker in early activity, down 78.62 points at 9:35
a.m. CDT to sit at 13,072.31.