Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, September 13 (CNS Canada) – The Canadian dollar continued to lose ground against its US counterpart Tuesday morning, falling to a more than one-month low.

Crude oil prices declined as the International Energy Agency said it expects demand for the commodity to slow, which amid growing supplies, is bearish.

Declining crude oil prices weighed on the commodity-linked loonie.

At 8:55 CDT Tuesday, the Canadian dollar was at US$0.7600 or US$=C$1.3158, which compares with Monday’s North American close of US$0.7663 or US$1=C$1.3049.

Labour productivity in the Canadian business sector grew faster in Western Canada than in Eastern Canada from 2009 to 2014, Statistics Canada said in a report on Tuesday.

The TSX was down 159.70 points, at 8:55 CDT Tuesday morning to sit at 14,437.40.