Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Oct. 23 (MarketsFarm) – The Canadian dollar was relatively steady on Friday morning.

     At 8:45 CDT Friday morning the Canadian dollar was at US$0.7614 or US$1=C$1.3133, which compares with Thursday’s North American close of US$0.7609 or US$1=C$1.3142.

A recent report from Statistics Canada showed Canada’s inflation increased by 0.5 per cent in September, compared to the same month last year. Economists had expected a year-over-year increase of 0.4 per cent.

The TSX was up 3.35 at 8:45 CDT to trade at 16,282.71 points.

Crude oil prices were steady on Friday morning following comments indicating an extension of production cuts by the Organization of Petroleum Exporting Countries and its allies (OPEC+). West Texas Intermediate (WTI) was down by five cents at US$40.59 per barrel. Brent Crude lost three cents to trade at US$42.43.

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