Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, September 12 – The Canadian dollar lost ground against its US counterpart Monday morning, tracking losses in crude oil.

Crude oil prices declined in early activity as industry group, OPEC, upwardly revised its non-member supply estimates for 2016 and 2017 in its monthly report, which weighed on the commodity-linked loonie.

At 8:46 CDT Monday, the Canadian dollar was at US$0.7622 or US$=C$1.3120, which compares with Friday’s North American close of US$0.7670 or US$1=C$1.3037.

There was no significant domestic data released by Statistics Canada on Monday.

The TSX was down 36.72 points, or 0.25 per cent, at 8:46 CDT Monday morning to sit at 14,503.28.