Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, November 4 The Canadian dollar weakened against its US counterpart Wednesday morning, as US trade data outweighed Canadian data, pressuring the loonie.

At 9:00 a.m. CST the Canadian dollar was at US$0.7623 or C$1.3118 which compares with Tuesday’s North American close of US$0.7662, or C$1.3052.

US data released on Wednesday showed the country’s trade deficit narrowed to its lowest level in seven months in September.

Canada’s trade deficit narrowed in September too, from C$2.7 billion in August to C$1.7 billion in September, Statistics Canada said in a report on Wednesday.

The TSX was stronger in early activity, up 40.80 points at 9:00 a.m. CST to sit at 13,751.11.