By Commodity News Service Canada
Oct. 10 (CNS Canada) — The Canadian dollar was slightly weaker early this morning, but on par with yesterday’s close, amid the release of reports on Canadian building permits. The United States was expected to release its Producer Price Index reports soon, and the U.S. Treasury Currency report is due to be released tomorrow.
The Canadian dollar was at US$0.7713, or C$1.297 at 8:32 a.m. CDT. It closed Oct. 9 at US$0.7713, or C$1.297.
Canadian municipalities issued 0.4 per cent more building permits in August than the previous month, Statistics Canada data released this morning showed. The strength was in the non-residential sector, which was up 8.8 per cent August over July, after posting C$3.2 billion in building permits in August. Commercial building permits rose 8.9 per cent, while institutional permits rose 25.8 per cent. In the residential sector, municipalities issued C$5 billion worth of building permits in August, down 4.4 per cent from July. It marks the third straight decline for residential building permits in Canada.
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The S&P/TSX composite index was down dramatically today at 15,746.34, a fall of 107.71 points, or 0.68 per cent in early trading, at 8:47 CDT. The TSX composite has declined 1.02 per cent during the past five days
Markets in the United States were also falling this morning with the S&P 500 down 0.50 per cent to 2,865.84 and the Dow Jones down 0.45 per cent at 26,312.75. Nasdaq was at 7.664.77, down 0.95 per cent.
West Texas Intermediate (WTI) crude oil was at US$74.36 per barrel, down 60 U.S. cents.
