Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, September 21 – The Canadian dollar weakened against
its US counterpart Monday morning as Statistics Canada released
reports on wholesale trade and petroleum transportation.

At 8:35 a.m. CDT the Canadian dollar was at US$0.7559 or C$1.3229
which compares with Friday’s North American close of US$0.7566, or
C$1.3217.

Wholesale sales were unchanged at C$55.4 billion in July. Higher
sales in three subsectors, representing 52 per cent of wholesale
sales, were offset by lower sales in other subsectors, Statistics
Canada said in a report on Monday.

According to StatsCan, in volume terms, wholesale sales
decreased 0.4 per cent in July.

In other Canada economic data, Canadian pipelines net receipts
of crude oil and condensates, and other liquefied petroleum products,
totalled 35.1 million cubic metres in July, up 3.8 per cent from the
same month last year, StatsCan said on Monday.

Overnight growth in China’s stocks helped global markets rally,
excluding European markets due to a plunge in Volkswagen AG stocks,
analysts said on Monday.

The TSX was stronger in early activity, up 63.79 points at 8:35
a.m. CDT to sit at 13,710.69.