Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, December 9 The Canadian dollar strengthened against its US counterpart on Wednesday as crude oil futures saw a modest recovery.

At 8:40 a.m. CST the Canadian dollar was at US$0.7379 or C$1.3552 which compares with Tuesday’s North American close of US$0.7360, or C$1.3587.

At 8:40 a.m., New York Mercantile crude oil futures had gained 0.16 to sit at 37.67 a barrel.

In Canadian domestic data, Canada produced 17.2 million cubic metres of crude oil and equivalent products in September, down 3.5 per cent compared with the same month in 2014, Statistics Canada said in a report on Wednesday.

The TSX was stronger in early activity, up 37.67 points at 8:40 a.m. CST to sit at 12,995.24.