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Canadian dollar and business outlook

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By Commodity News Service Canada

WINNIPEG, November 19 The Canadian dollar strengthened against its US counterpart Thursday morning despite weak domestic data and lower crude oil prices.

At 8:55 a.m. CST the Canadian dollar was at US$0.7533 or C$1.3275 which compares with Wednesday’s North American close of US$0.7509, or C$1.3318.

At 8:55 a.m. New York mercantile crude oil futures had lost US$0.73 to sit at US$40.02 a barrel.

In Canadian domestic data, wholesale sales edged down 0.1 per cent to C$55.2 billion in September. Declines in the motor vehicle and parts and the building material and supplies subsectors were partially offset by higher sales in the machinery, equipment and supplies and the food, beverage and tobacco subsectors, Statistics Canada said in a report on Thursday.

The TSX was stronger in early activity, up 20.61 points at 8:55 a.m. CST to sit at 13,420.58.