Canadian dollar and business outlook

By Phil Franz-Warkentin

Glacier FarmMedia | MarketsFarm – The Canadian dollar was softer Monday morning, with broad strength in the United States dollar internationally behind some of the relative weakness.

At 9:55 a.m. CDT the Canadian dollar was trading at US$0.7350 or US$1=C$1.3605, which compares with Friday’s close of US$0.7365 or US$1=C$1.3577.

Gains in crude oil helped temper the declines in the energy-linked Canadian dollar. Oil was underpinned by mounting tensions in the Middle East. West Texas Intermediate crude oil was up by 1.76 per cent at US$75.69 per barrel.

The TSX was weaker, losing 30.92 points at 9:55 CDT to trade at 24,131.91.