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Canadian Dollar And Business Outlook

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Published: May 11, 2017

By Commodity News Service Canada

Winnipeg, May 11 – The Canadian dollar was lower against its
American counterpart on Thursday, after Moody’s Investor Services
downgraded the credit ratings of Canada’s big banks.
The service cited high debt levels and rising house prices as
some of the main reasons for the decision.
At 9:10 CDT Thursday morning the Canadian dollar was at
US$0.7277 or C$1.3742 which compares with Wednesday’s North American
close of US$0.7314 or C$1.3672.
At 9:10 CDT Thursday morning, the TSX was down 47.89 points,
or 0.031%, at 15,585.32.
The TSX’s financial group was particularly affected by the
credit downgrading, prompting losses in other sectors.
However, advances in crude oil prices, gold bullion and natural
gas limited the damage.

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