Canadian dollar and business outlook

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By MarketsFarm

WINNIPEG, Nov. 4 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, with the uncertain outcome of the United States presidential election overhanging all markets.
At 8:55 CST Wednesday morning the Canadian dollar was at US$0.7577 or C$1.3198 which compares with Tuesday’s North American close of US$0.7607 or C$1.3145.
A number of states remained too close to call in the presidential contest between Republican incumbent Donald Trump and Democrat challenger Joe Biden, with millions of ballots left to be counted. Biden was leading in the overall popular vote, but the U.S. system will see the winner decided by the electoral college. Trump prematurely claimed victory overnight despite the fact that all votes had yet to be counted and threatened to go to the Supreme Court.

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Canada’s trade deficit with the rest of the world widened to C$3.25 billion in September, according to a report from Statistics Canada. The deficit came in above average trade estimates, with both exports and imports up on the month.
West Texas Intermediate crude oil up slightly in early activity, at US$37.91 per barrel.
The TSX was up by 5.70 points at 8:55 CST to trade at 15,944.85 points.