Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, November 3 – The Canadian dollar was slightly stronger against its US counterpart in early activity on Thursday.

US jobless claims moved to a three-month-high in the week ending October 29. Claims increased by 7,000 to a seasonally adjusted 265,000, which put pressure on the greenback and allowed the Canadian dollar to strengthen.

At 8:45 CDT Thursday, the Canadian dollar was at US$0.7471 or US$=C$1.3385, which compares with Wednesday’s North American close of US$0.7465 or US$1=C$1.3395.

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

The TSX was up 34.74 points at 8:45 CDT Thursday morning to sit at 14,629.46.