Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was showing some modest strength Tuesday morning.

At 8:41 a.m. CDT the Canadian dollar was trading at US$0.7299 or US$1=C$1.3701, which compares with Monday’s close of US$0.7291 or US$1=C$1.3715.

The firmer tone in the currency came despite losses in crude oil, as tensions in the Middle East showed signs of easing.

West Texas Intermediate crude oil was down by 0.56 per cent at US$81.44 per barrel.

Gold was also lower, losing US$20.90 per ounce at US$2,325.50 per ounce.

The TSX was posting small gains, up 37.35 points at 8:41 CDT to trade at 21,909.31 points.