Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Nov. 29 (MarketsFarm) The Canadian dollar was slightly weaker on Thursday morning, following reports indicating an economic slowdown.

At 8:45 CST, the Canadian dollar was at US$0.7519 or C$1.3266, which compares with Thursday’s North American close of US$0.7527 or C$1.3266.

Canada’s economy only grew by 1.3 per cent in the third quarter of 2019, according to Statistics Canada. Also, Canada’s job market has slightly cooled, losing approximately 27,000 jobs in September.

Oil prices were lower following continued uncertainty regarding the trade deal between the United States and China. Brent Crude was down by $1.13 at US$62.74 per barrel, and West Texas Intermediate (WTI) was down by $1.59 at US$56.52 per barrel.

The TSX was slightly lower at 9:05 CST, down by 7.27 points at 17,105.40. The S&P 500 Index was down 7.24 points to hit 3,146.39. The Dow Jones lost 88.45 points at 28,077.43. The NASDAQ decreased, down 24.40 to hit 8,681.21.

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