Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, November 14 – The Canadian dollar was slightly lower against its U.S. counterpart on Tuesday morning, tracking losses in crude oil prices, gold bullion and natural gas.

Weakness in the American greenback lent some strength to the loonie. There are growing worries about whether or not a planned Republican tax reform will get passed.

Egypt has announced its intention to buy 12 CSeries jets from Bombardier in a deal worth C$1.1 billion. The news comes at a time when sales of the plane to the U.S. have been threatened by potential tariffs.

At 9:05 CST Tuesday morning the Canadian dollar was at US$0.7866 or C$1.2713 which compares with Friday’s North American close of US$0.7885 or C$1.2683. Canadian markets were closed November 13 for Remembrance Day.

At 9:05 CST Tuesday morning, the TSX was down 72.29 points, or 0.45%, at 15,953.97.


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