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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, October 6 – The Canadian dollar was slightly weaker against its US counterpart on Thursday, as the greenback was propped up by strong domestic data.

US jobless claims in the week ending October 1 were down 5,000 at a seasonally adjusted 249,000, which is close to a 43-year-low.

However, advances in the crude oil market limited declines in the commodity-linked Canadian dollar.

At 8:50 CDT Thursday, the Canadian dollar was at US$0.7569 or US$=C$1.3212, which compares with Wednesday’s North American close of US$0.7586 or US$1=C$1.3182.

In Canadian domestic data, municipalities issued C$7.3 billion worth of building permits in August, up 10.4 per cent from July, Statistics Canada said in a report on Thursday.

The TSX was up 11.66 points at 8:50 CDT Thursday morning to sit at 14,622.24.

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