Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Oct. 20 (CNS Canada) The Canadian dollar was weaker Thursday morning, as losses in crude oil weighed on values.

At 9:02 CDT Thursday morning the Canadian dollar was at US$0.7582 or C$1.3189 which compares with Wednesday’s North American close of US$0.7618 or C$1.3127.

Crude oil hit its highest levels in 15 months on Wednesday, leaving it open to a correction lower on Thursday.

Recent comments from the Bank of Canada also continued to weigh on the currency, as the Bank was seen as taking a somewhat more dovish stance on the economy.

The TSX was up 22.00 points at 9:02 CDT to sit at 14,862.49.