Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was holding steady Monday morning lacking any clear direction. Many government offices were closed for Easter Monday.

At 9:01 a.m. CDT the Canadian dollar was trading at US$0.7376 or US$1=C$1.3557, which compares with Thursday’s close of US$0.7380 or US$1=C$1.3550.

Crude oil was also trading within a narrow range to start the week, seeing some consolidation after posting solid gains in recent weeks on the back of expectations for rising demand and production cuts from OPEC+. Ongoing geopolitical uncertainty also continues to overhang the energy markets.

West Texas Intermediate crude oil was up by 0.16 per cent at US$83.30 per barrel.

The TSX was slightly softer, down by 32.16 points at 8:37 CDT to trade at 22,129.59 points.