Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Sept. 26 (CNS Canada) The Canadian dollar was slightly firmer Monday morning, as the currency found spillover support from advances in crude oil.

At 9:15 CDT Monday morning the Canadian dollar was at US$0.7604 or C$1.3151 which compares with Friday’s North American close of US$0.7592 or C$1.3171.

Canada’s Consumer Price Index increased at an annual rate of 1.1 per cent in August, Statistics Canada reported on Friday. That was below expectations and seen as lessening the chances of an interest rate hike any time soon.

However, gains in crude oil were supportive for the energy-linked Canadian currency, as OPEC countries meet this week.

There was some uncertainty in the financial markets on Monday, as investors await the much anticipated US Presidential debate in the evening.

The TSX was weaker, down 80.93 points at 9:15 CDT to sit at 14,617.00.