Canadian Dollar and Business Outlook

By Commodity News Service Canada
Oct. 30s (CNS Canada) – The Canadian dollar traded within
normal ranges, with no early signs of a trend developing, either
up or down Tuesday morning. However, early declines in crude oil
markets do not suggest a strong day is in store for the loonie.
Bank of Canada Governor Stephen Poloz is scheduled to speak
before the House of Commons standing committee on Finance later
today.
The dollar was at US$0.7613, or C$1.3135 at 8:33 a.m. CDT.
It closed Oct. 29 at US$0.7623, or C$1.3119.
The S&P/TSX composite was down 13.83 points, or 0.09 per
cent at 14,707.92. The TSX has shed 4.48 per cent, or 690.95
points in the last five days.
In the United States, major stock indexes have all fell
during the last five days. The S&P 500 have lost 4.16 per cent,
the Dow Jones Industrial Average dropped 3.45 per cent and the
Nasdaq declined 5.60 per cent.
West Texas Intermediate (WTI) crude oil was down early this
morning to US$65.57 per barrel, a fall of US$1.47.

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