By Commodity News Service Canada
WINNIPEG, September 24 – The Canadian dollar was weaker against
its US counterpart Thursday, still reeling from US and Chinese data
which sent the loonie tumbling to an 11-year-low on Wednesday.
At 8:35 a.m. CDT the Canadian dollar was at US$0.7468 or C$1.3390
which compares with Wednesday’s North American close of US$0.7492,
or C$1.3347.
Data from the US Energy Information Administration had said
gasoline stockpiles were growing, sending the commodity-linked
Canadian dollar spiraling.
Additionally, data from China showing the manufacturing index
had fallen to a six-year low in September continued to fuel concerns
about a slowdown in the economy.
In Canadian domestic data, average weekly earnings of non-farm
payroll employees were C$957 in July, little changed from C$954 the
previous month. Compared with 12 months earlier, weekly earnings
increased by 1.6 per cent, Statistics Canada said in a report on
Thursday.
The TSX was weaker in early activity, down 55.50 points at 8:35
a.m. CDT to sit at 13,328.19.
