Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Sept. 30 (MarketsFarm) – The Canadian dollar was slightly stronger on Wednesday, following positive economic data.

     At 8:40 CDT Wednesday morning the Canadian dollar was at US$0.7485 or US$1=C$1.3379, which compares with Tuesday’s North American close of US$0.7468 or US$1=C$1.3391.

A recent report from Statistics Canada showed Canada’s GDP expanded by three per cent in July, marking economic recovery from the COVID-19 pandemic. However, the economy remains six per cent below pre-pandemic levels.

The TSX was up 47.46 points at 8:45 CDT to trade at 16,258.83 points.

Crude oil prices were mixed on Wednesday, as concerns of long-term demand linger. West Texas Intermediate (WTI) was up by 14 cents at US$39.43 per barrel. Brent Crude was down by 35 cents to trade at US$40.68.



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