Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, September 28 – The Canadian dollar was slightly lower against its American counterpart Wednesday morning, as investors waited for the release of US core durable goods orders. Analysts expect the orders to slump by 0.5 per cent.

Losses in gold also dragged down the commodity-linked loonie.

At 8:53 CDT, the loonie was down 0.0004 of a cent to US$0.7571 or US$1=C$1.3208, which compares with Tuesday’s close of US$0.7574 or US$1=C$1.3203.

At 8:53 a.m., New York Mercantile crude oil futures (October contract) had gained US$0.41 to sit at US$43.85 a barrel. The October gold contract fell $3.80 to sit at US$1,326.80 an ounce.

An unexpected decline in US crude reserves lent strength to crude oil prices.

At 8:53 CDT Wednesday morning, the TSX was unchanged at 14,558.04.