Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, July 24 (MarketsFarm) The Canadian dollar was firmer Wednesday morning, seeing a modest correction after Tuesday’s declines.
At 9:25 CDT Wednesday morning the Canadian dollar was at US$0.7621 or C$1.3122 which compares with Tuesday’s North American close of US$0.7609 or C$1.3142.
After hitting its weakest level relative to its U.S. counterpart in more than a month the Canadian dollar was due for a correction, according to analysts.
Gains in crude oil and positioning ahead of Thursday’s European interest rate announcement were also supportive.
The TSX was weaker Wednesday morning, down 38.32 points at 9:25 CDT to sit at 16,534.36.


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