Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, October 30 – The Canadian dollar was flat against its US counterpart Friday morning as modest economic gains balanced lower crude oil futures.

At 8:45 a.m. CDT the Canadian dollar was at US$0.7597 or C$1.3163 which compares with Thursday’s North American close of US$0.7595, or C$1.3167.

At 8:45 a.m. New York mercantile crude oil futures had lost US$0.05 to sit at US$46.01 a barrel.

Real gross domestic product edged up 0.1 per cent in August, following increases of 0.4 per cent in June and 0.3 per cent in July. The growth in August was mainly a result of gains in manufacturing, mining, quarrying, and oil and gas extraction and retail trade, Statistics Canada said in a report on Friday.

The TSX was weaker in early activity, down 71.02 points at 8:45 a.m. CDT to sit at 13,720.86.