Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Oct. 11 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, taking some direction from crude oil.
At 8:41 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7250 or US$1=C$1.3793, which compares with Friday’s close of US$0.7293 or US$1=C$1.3712. Canadian markets were closed Monday for Thanksgiving.
Crude oil was pressured by global recessionary fears, although unrest in Iran was being followed closely by traders. West Texas Intermediate crude oil was down by 2.1 per cent at 89.15 per barrel.
The TSX was down by 275.26 points at 8:41 CDT, trading at 18,307.87 points.

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