Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was holding relatively steady Tuesday morning, as North American financial markets saw a continuation of Monday’s selloff amid ongoing tariff uncertainty.

At 8:43 a.m. CDT the Canadian dollar was trading at US$0.6938 or US$1=C$1.4413 which compares with Monday’s close of US$0.6930 or US$1=C$1.4431.

The Bank of Canada is scheduled to make its latest interest rate announcement on Wednesday, with general expectations calling for another 25-point cut to the key overnight rate. However, the accompanying statement will be followed closely.

Crude oil was firm in early trade, with West Texas Intermediate crude oil up by 1.15 per cent at US$66.76 per barrel.

The TSX was down by 37.60 points at 8:43 CDT to trade at 24,343.11.