Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Dec. 6 (CNS Canada) – The Canadian dollar was weaker Thursday morning, as losses in crude oil and the outside equity markets weighed on values.

At 9:01 CST Thursday morning the Canadian dollar was at US$0.7457 or C$1.3410, which compares with Wednesday’s North American close of US$0.7489 or C$1.3353.

The Canadian dollar was testing new 18-month lows, with Wednesday’s statements from the Bank of Canada adding to the softer tone, as the Bank was seen as backing off on expectations to raise interest rates anytime soon.

Canada’s international trade deficit widened to C$1.2 billion in October, from C$891 million the previous month, according to a report from Statistics Canada. Exports were down by 1.2 per cent on the month, while imports declined by 0.6 per cent.

The TSX/S&P Composite Index was weaker, down 330.73 points at 9:01 CST to trade at 14,851.91 points.

explore

Stories from our other publications