Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, November 2 – The Canadian dollar was slightly stronger against its US counterpart in early activity on Wednesday.

Private sector growth in the US was lower-than-expected in October, which pressured the greenback, but losses in the crude oil market capped the upside in the commodity-linked loonie Wednesday morning.

At 8:40 CDT Wednesday, the Canadian dollar was at US$0.7476 or US$=C$1.3376, which compares with Tuesday’s North American close of US$0.7466 or US$1=C$1.3393.

There was no significant economic data released by Statistics Canada on Wednesday.

The TSX was down 41.72 points at 8:40 CDT Wednesday morning to sit at 14,736.60.