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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Sep. 17 (MarketsFarm) – The Canadian dollar was slightly weaker Tuesday morning, as crude oil prices edged lower after Monday’s rally.
At 8:39 CDT Tuesday morning the Canadian dollar was at US$0.7538 or C$1.3266 which compares with Monday’s North American close of US$0.7548 or C$1.3248.
Crude oil jumped sharply higher on Monday in reaction to drone attacks on Saudi Arabian oil facilities over the weekend. Prices were easing somewhat on Tuesday amid news that the United States might release some of its reserves.
Canadian manufacturing sales decreased by 1.3 per cent in July, hitting C$57.2 billion, according to a report from Statistics Canada. Sales were down in 11 industries, which represented 66.8 per cent of total manufacturing sales.
The TSX was stronger Tuesday morning, down 17.25 points at 8:41 CDT to sit at 16,734.06.

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