Canadian dollar and business outlook

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By MarketsFarm

WINNIPEG, Nov. 5 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, hitting its best levels relative to its United States counterpart in nearly two months.
At 8:40 CST Thursday morning the Canadian dollar was at US$0.7652 or C$1.3068 which compares with Wednesday’s North American close of US$0.7612 or C$1.3138.
Broad weakness for the U.S. dollar against most major world currencies accounted for some of the relative strength in the loonie, as currency traders adjusted positions ahead of the latest interest rate announcement from the U.S. Federal Reserve.

Canadian Financial Close: C$ weaker Thursday

Glacier FarmMedia — The Canadian dollar was weaker on Thursday, as its United States counterpart regained lost ground in international…

The Fed is widely expected to be holding steady this month and not making any major policy changes, especially with the outcome of the recent presidential election still undecided.
In Canadian data, prices for residential building construction were up by 2.4 per cent in the third quarter, according to a report from Statistics Canada. That marked the largest quarterly rise since the first quarter of 2017.
West Texas Intermediate crude oil down slightly in early activity, at US$38.90 per barrel.
The TSX was up by 263.00 points at 8:40 CST to trade at 16,261.74 points.

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