Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly firmer Friday morning, with gains in crude oil providing some support.

At 8:50 a.m. CDT the Canadian dollar was trading at US$0.7318 or US$1=C$1.3665, which compares with Thursday’s close of US$0.7305 or US$1=C$1.3689.

Comments from United States Treasury Secretary Janet Yellen were seen as calming some concerns over economic growth in the country, with ongoing tensions in the Middle East also underpinning energy markets.

West Texas Intermediate crude oil was up by 0.57 per cent at US$84.05 per barrel.

The TSX was stronger, gaining 59.69 points at 8:50 CDT to trade at 21,945.07 points.