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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, October 13 – The Canadian dollar gained against its US counterpart in early activity on Thursday, as the greenback ran out of steam following recent advances.

A slight recovery in crude oil prices added to the loonie’s gains.

At 8:52 CDT Thursday, the Canadian dollar was at US$0.7546 or US$=C$1.3252, which compares with Wednesday’s North American close of US$0.7542 or US$1=C$1.3259.

In Canadian domestic data, the New Housing Price Index (NHPI) rose 0.2 per cent in August compared with July, Statistics Canada said in a report on Thursday.

The TSX was down 128.7 points at 8:52 CDT Thursday morning to sit at 14,490.32.

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