Glacier FarmMedia COVID-19 & the Farm

Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, March 30 – The Canadian dollar was stronger against its US counterpart in early activity on Thursday.

The commodity-linked loonie was underpinned by advances in the crude oil market. Crude gained with reports of smaller inventories than expected and lower production in key areas.

At 8:45 CDT Thursday, the Canadian dollar was at US$0.7513 or US$=C$1.3310, which compares with Wednesday’s North American close of US$0.7483 or US$1=C$1.3364.

In Canadian domestic data, the Industrial Product Price Index (IPPI) edged up 0.1 per cent in February, primarily due to higher prices for meat, fish and dairy products and primary non-ferrous metal products, Statistics Canada said in a report on Thursday.

The TSX was down 17.27 points at 8:45 CDT Thursday morning to sit at 15,640.36.

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