Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was softer Monday morning, as financial markets reacted to the latest tariff threats from United States President Donald Trump.

At 8:51 a.m. CST the Canadian dollar was trading at US$0.6971 or US$1=C$1.4345 which compares with Friday’s close of US$0.6994 or US$1=C$1.4298.

Trump said Sunday that he would announce new 25 per cent tariffs on all steel and aluminum imports into the U.S. Canada currently accounts for nearly 80 per cent of U.S. aluminum imports and is also a major source of steel.

Crude oil was firm in early trade, with West Texas Intermediate crude oil up by 1.42 per cent at US$72.01 per barrel.

The TSX was stronger, up 229.19 points at 8:51 CST to trade at 25,672.10.