Canadian Dollar and Business Outlook

By Commodity News Service Canada
Aug. 22 (CNS Canada) – The Canadian dollar is on the rise this
morning as investors make moves ahead of an expected
announcement that progress is being made on the North American
Free Trade Agreement talks. As well, continued weakness in the
American dollar is suspended the loonie’s relative value.
The Canadian/United States exchange was at US$0.7670, or
C$1.3038 this morning. The loonie closed yesterday at US$7671,
or C$1.3036.
West Texas Intermediate crude oil was 2.45 per cent higher at
US$68.06 per barrel, an increase of US$1.63.
Stock markets slid today with the news that former associates of
U.S. President Donald Trump had been convicted. American stock
futures initially fell on the news that Paul Manafort, Trump’s
former campaign chair, and Michael Cohen, Trump’s former lawyer,
were convicted in separate cases. Investors didn’t panic and the
market later regained some losses.
The S&P/TSX index was up slightly by 0.35 per cent, or 56.49
points, at 16,387.52 at 8:36 a.m. CDT.

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