Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 11 – The Canadian dollar fell slightly lower against its American counterpart Friday morning, on the back of disappointing economic data, both at home and abroad.

At 8:45 CDT Friday morning, the loonie was down 0.0008 of a cent to US$0.7540 or US$1 = C$1.3265. According to new data, China’s auto sales fell in August making it the third month in a row.

Household debt in Canada hit another record in the second quarter, rising to 164.6% from 163.0% in the month previous.

On the commodity markets the October crude contract in New York fell US$1.22 to US$44.70 a barrel. The October gold contract fell $7.70 to US$1,101.60 an ounce.

At 8:45 CDT Friday morning, the TSX was down 67.62 points to 13,502.27.