Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, April 15 – The Canadian dollar was slightly weaker Friday morning, as losses in crude oil and softer domestic economic data weighed on the currency.

At 8:58 CDT Friday morning the Canadian dollar was at US$0.7755 or C$1.2895 which compares with Thursday’s North American close of US$0.7783 or C$1.2849.

Crude oil was down by more than a dollar per barrel, as traders were uncertain whether or not major oil producers would be able to reach a deal to cut production at a meeting in Qatar over the weekend.

Statistics Canada reported that manufacturing sales were down by 3.3% in February, hitting C$5.3 billion. The decline came after three straight months of increases.

The TSX was weaker, down 45.50 points at 8:58 CDT to sit at 13,622.79.