Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, June 18 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as ongoing strength for the United States dollar internationally continued to influence the world currency markets after the U.S. Federal Reserve took a more hawkish stance on future interest rate moves earlier this week.
At 8:48 a.m. CDT Friday morning, the Canadian dollar was at US$0.8071 or US$1=C$1.2390 which compares with Thursday’s North American close of US$0.8103 or US$1=C$1.2341.
In domestic data, Canada’s New House Price Index was up by 1.4 per cent in May, according to Statistics Canada. Prices were up in 19 of 27 census metropolitan areas, with the largest increase in Winnipeg at 5.1 per cent.
Crude oil was slightly weaker in early activity, with West Texas Intermediate crude oil down 0.2 per cent at US$70.63 per barrel.
The TSX was weaker, down only 87.35 points at 8:48 CDT, trading at 20,056.69 points.


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