Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker Tuesday morning, as losses in crude oil weighed on the currency.

The United States Federal Reserve will release the minutes of its last meeting later in the day. Market participants will be watching the minutes closely for hints on the Fed’s future interest rate adjustments.

At 9:30 a.m. CDT the Canadian dollar was trading at US$0.7301 or US$1=C$1.3697, which compares with Tuesday’s close of US$0.7322 or US$1=C$1.3657.

Crude oil was lower, with West Texas Intermediate crude oil down by 2.31 per cent at US$71.87 per barrel.

The TSX was steady, up 1.12 points at 9:30 CDT to trade at 24,073.63.