Canadian Dollar and Business Outlook

By Commodity News Service Canada
Oct. 16 (CNS Canada) – The Canadian dollar posted gains
this morning recovering some of last week’s losses. A rise in
stocks and expectations that the Bank of Canada is preparing for
an interest hike next week lifted the loonie.
The Canadian dollar was at US$0.7725 or C$1.2945 at 8:27
a.m. CDT. It closed Oct. 15 at US$0.7696 or C$1.2993.
S&P Global Ratings raised alarm bells this morning that
China may be holding 40 trillion yuan, or US$5.89 trillion of
debt at local government levels, not registered in regular
balance sheet debt reports.
The S&P/TSX composite index opened higher at 15,330.37, a
gain of 20.90 points or 0.14 per cent in early trading, at 8:37
a.m. CDT.
West Texas Intermediate (WTI) crude oil was at US$71.25 per
barrel, down 53 U.S. cents.

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