Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, October 27 The Canadian dollar weakened against its US counterpart Tuesday as crude oil futures plunged ahead of a US Federal Reserve meeting.

At 8:45 a.m. CDT the Canadian dollar was at US$0.7566 or C$1.3217 which compares with Monday’s North American close of US$0.7597, or C$1.3163.

New York crude oil futures were down alongside other global equities ahead of an interest rate announcement from the Fed.

At 8:45 a.m. the December contract was down US$1.04 to sit at US$42.94 per barrel.

There was no significant domestic data released by Statistics Canada on Tuesday.

The TSX was weaker in early activity, down 81.91 points at 8:45 a.m. CDT to sit at 13,708.99.