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Canadian dollar and business outlook

| 1 min read

Glacier FarmMedia — The Canadian dollar was holding steady Wednesday morning.

  • At 8:59 a.m. CST the Canadian dollar was trading at US$0.7296 or US$1=C$1.3706 which compares with Tuesday’s close of US$0.7295 or US$1=C$1.3708.
  • Solid corporate earnings data from the Bank of Montreal and the National Bank of Canada lent some support to the currency.
  • Canadian Prime Minister Mark Carney will visit India later this week, with trade expected to be at the top of the agenda.
  • Gold was up by 0.40 per cent at US$5,196.80 per ounce.
  • Crude oil was softer, with West Texas Intermediate down 0.29 per cent at US$65.44 per barrel.
  • The gains in precious metals were supportive for Canadian equities, with the TSX hitting new highs — up 52.43 points at 8:59 CST to trade at 34,022.81.