Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Aug. 16 (MarketsFarm) – The Canadian dollar was slightly firmer Friday morning, seeing some consolidation ahead of the weekend.
At 8:43 CDT Friday morning the Canadian dollar was at US$0.7518 or C$1.3301 which compares with Thursday’s North American close of US$0.7505 or C$1.3325.
After dropping in sympathy with crude oil earlier in the week, the currency appeared to be seeing some chart support around the psychological 75 cent level.
Foreign investors reduced their holdings in Canadian securities by C$4.0 billion in June, according to a report from Statistics Canada. The reduction came following a net C$10.3 billion investment the previous month. Meanwhile, Canadians increased their holdings in foreign securities by C$6.6 billion in June.
The TSX was stronger Friday morning, up 79.32 points at 8:43 CDT to sit at 16,091.85.


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