By Commodity News Service Canada
WINNIPEG, October 12 – The Canadian dollar lost ground against its US counterpart in early activity on Wednesday, following declines in crude oil.
Crude oil prices dropped in early activity with reports of increased production in September, and projections for increased carryout on 2017. The news was bearish for the commodity-linked Canadian dollar.
At 8:38 CDT Wednesday, the Canadian dollar was at US$0.7526 or US$=C$1.3287, which compares with Tuesday’s North American close of US$0.7552 or US$1=C$1.3241.
There was no significant domestic data released by Statistics Canada on Wednesday.
The TSX was down 14.60 points at 8:38 CDT Wednesday morning to sit at 14,535.
