Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was holding relatively steady Monday morning.

At 8:41 a.m. CDT the Canadian dollar was trading at US$0.7275 or US$1=C$1.3746, which compares with Friday’s close of US$0.7274 or US$1=C$1.3748.

Canada’s Industrial Product Price Index was up by 0.8 per cent in March compared to the previous month, but still down by 0.5 per cent on an annual basis, according to updated data from Statistics Canada. The country’s Raw Materials Price Index was up by 4.7 per cent monthly and 0.8 per cent annually.

New home prices in Canada held steady in March compared to the previous month, with the New Housing Price Index down by 0.4 per cent year-over-year, according to StatCan.

West Texas Intermediate crude oil was down by 1.25 per cent at US$82.10 per barrel.

The TSX was weaker, losing 54.49 points at 8:41 CDT to trade at 22,752.88 points.