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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Oct. 22 (MarketsFarm) – The Canadian dollar was slightly weaker on Thursday morning

     At 8:35 CDT Thursday morning the Canadian dollar was at US$0.7603 or US$1=C$1.3153, which compares with Wednesday’s North American close of US$0.7621 or US$1=C$1.3122.

While the odds of a stimulus package before the United States Presidential Election are slim, market participants are still watching for developments. Another 787,000 Americans filed unemployment claims last week, which was lower than expected. However, unemployment still remains at historic highs.

The TSX was up 55.24 at 8:45 CDT to trade at 16,285.47 points.

Crude oil prices were slightly stronger on Thursday morning despite recent reports of high U.S. stockpiles. West Texas Intermediate (WTI) was up by 37 cents at US$40.40 per barrel. Brent Crude gained 33 cents to trade at US$42.06.

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