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Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, Nov. 9 (CNS Canada) – The Canadian dollar is down Friday morning and is under the 76 U.S. cent mark.

At 8:51 CST Friday morning the Canadian dollar was at US$0.7577 or C$1.3191, which compares with Thursday’s North American close of US$0.7625 or C$1.3114.

Oil prices Friday morning slipped under US$60 per barrel. West Texas Intermediate crude this morning fell US$1.38 and is at US$59.29 per barrel after closing yesterday at US$60.67 per barrel.

Three factors are said to be pushing oil downward, the United States granting eight countries waivers in light of the U.S. sanctions against Iran, Saudi Arabia and other countries increasing their oil production and gains in the U.S. supply and stockpiles of oil.

Gold is up Friday morning to US$1,211.60 per ounce from yesterday’s close of US$1,225.10 per ounce.

The Toronto TSX/S&P Composite Index was down 112.38 points Friday morning shortly after open at 15,245.09.

END

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