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Canadian dollar and business outlook

| 1 min read

By Phil Franz-Warkentin

 

Glacier FarmMedia MarketsFarm – The Canadian dollar was holding steady Monday morning, with gains in crude oil providing some underlying support.

At 8:51 a.m. CST Monday morning the Canadian dollar was trading at US$0.7476 or US$1=C$1.3376, which compares with Friday’s close of US$0.7475 or US$1=C$1.3378.

Job vacancies in Canada came in at 706,100 in the third quarter, marking a nine per cent decline from the previous quarter, according to a report of Statistics Canada. Meanwhile, payroll employment was up by 0.7 per cent – the tenth consecutive quarterly rise.

Intensified attacks by Houthi rebels on ocean shipments through the Red Sea have caused oil-giant BP to announce it was temporarily pausing all shipments through the region. Other shippers have also announced precautionary measures.

West Texas Intermediate crude oil was up by 3.39 per cent at US$73.85 per barrel.

The TSX was stronger, gaining 144.29 points at 8:51 CST, trading at 20,673.44 points.