Canadian Dollar and Business Outlook

By Commodity News Service Canada
Oct. 3 (CNS Canada) – The Canadian dollar slipped slightly
relative to the gaining strength of the United States dollar
following remarks by a U.S. Federal Reserve official that
American inflation has not risen as much as expectations so the
Fed was likely comfortable with a December interest rate
increase.
The loonie was at US$0.7789, or C$1.2839 per U.S. dollar at
8:40 a.m. CDT. It closed Oct. 2 at US$0.7802, or C$1.2817.
Futures at Canada’s major stock markets are up, amid higher
oil prices. There are expectations that U.S. sanctions on Iran
will limit supply. December futures on the S&P/TSX were up .32
per cent early this morning.
The S&P/TSX composite index was at 16,048.44 at 8:30 a.m.
CDT, down 31.21 points, or 0.19 per cent.
West Texas Intermediate (WTI) crude oil was at US$74.91 per
barrel, down 32 U.S. cents.

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