Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, November 26 The Canadian dollar weakened against its US counterpart on Thursday as lower crude oil prices and recent positive economic data from the US weighed on the loonie.

At 8:45 a.m. CST the Canadian dollar was at US$0.7514 or C$1.3308 which compares with Wednesday’s North American close of US$0.7521, or C$1.3296.

In Canadian domestic data, average weekly earnings of non-farm payroll employees were C$955 in September, up one per cent from the previous month. Compared with 12 months earlier, average weekly earnings increased by 1.7 per cent, Statistics Canada said in a report on Thursday.

The TSX was stronger in early activity, up 38.85 points at 8:45 a.m. CST to sit at 13,442.27.