By Commodity News Service Canada
WINNIPEG, Aug. 15 (CNS Canada) – The Canadian dollar fell to its lowest level in a month early this morning, hitting US$0.7836 at 8:48 CDT, or C$1.2762 per US$1. It closed Monday at US$0.7871, or C$1.2701 per US$1.
The PayNet Small Business Lending Index reached 123.8 in June, up from 122.0 the previous month, marking the fifth straight month of increases to Canadian small businesses borrowing. The index measuring lending to construction companies led the way. It rose to 145.3 from 140.2.
A report by Arcview Market Research states that the marijuana market in North America is growing at the rate once reserved for the broadband internet companies of the early 2000s. The report said that at its current rate of growth, the sector appears likely to reach a compound annual growth rate of 25 per cent through to the end of 2021, when the market is expected to reach US$20.2 billion.
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Oil prices are showing continued signs of weakness with investors selling long positions amid ample supplies. Production from oil exporting nations OPEC, plentiful U.S. inventories and low demand from China were key market drivers. WTI crude was down 40 cents this morning, or 0.84%, at US$47.18.
The S&P/TSX was down 23.17 points in early trading 15,096.74 at 8:48 CDT.
