Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Sept. 22 (MarketsFarm) – The Canadian dollar was holding relatively steady Wednesday morning, with global financial markets waiting on developments out of China and real estate company Evergrande.
At 8:45 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.7805 or US$1=C$1.2812 which compares with Tuesday’s North American close of US$0.7812 or US$1=C$1.2801.
Chinese markets reopened on Wednesday after the four-day Mid-Autumn festival. After missing payments on Monday, Evergrande has reportedly worked out a payment plan for an interest payment due on Thursday.
Crude oil was stronger, which provided some support for the energy-linked Canadian dollar.
West Texas Intermediate crude oil was up 1.1 per cent at US$71.62 per barrel.
The TSX was stronger, up 150.35 points at 8:45 CDT, trading at 20,394.64 points.


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