Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Sept. 18 – The Canadian dollar was stronger Thursday
morning, recovering from Wednesday’s declines as currency traders
reassessed statements from the US Federal Reserve on interest rates.

At 9:29 CDT Thursday morning the Canadian dollar was at US$0.9139
or C$1.0942 which compares with Thursday’s North American close of
US$0.9088, or C$1.1004.

While the US Fed said on Wednesday that it would increase
interest rates at a faster pace than expected when it does start

In domestic data, Statistics Canada reported that foreign
investors purchased a net C$5.3 billion of Canadian securities in
July. Meanwhile, Canadian holdings of foreign securities increased
by C$9.7 billion during the month, which was the largest increase
since April 2007.

Uncertainty over the Scottish referendum on independence was in
the background of the currency markets today, as the outcome could
lead to disruptions in the global markets.

The TSX was slightly weaker in early activity, down 9.39 points
at 9:29 CDT to sit at 15,449.49.

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