Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was firmer Thursday morning, in thin trade with markets in the United States closed for Independence Day.

At 8:39 a.m. CDT the Canadian dollar was trading at US$0.7343 or US$1=C$1.3618, which compares with Wednesday’s close of US$0.7333 or US$1=C$1.3637.

Uncertainty ahead of the U.S. Presidential election, and if President Joe Biden will continue his re-election bid, had global currency traders adjusting positions.

Crude oil was slightly weaker Thursday morning, with West Texas Intermediate crude oil down by 0.37 per cent at US$83.57 per barrel.

The TSX was stronger, gaining 29.13 points at 8:39 CDT to trade at 22,252.80 points.