Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker Monday morning, as global financial markets reacted to news of a 90-day trade truce between China and the United States.

At 9:14 a.m. CDT the Canadian dollar was trading at US$0.7147 or US$1=C$1.3992 which compares with Friday’s close of US$0.7180 or US$1=C$1.3927.

China and the U.S. agreed to cut tariffs on each other for 90 days after representatives met in Switzerland over the weekend. Chinese tariffs on most U.S. goods will drop to 10 per cent from 125 per cent, while U.S. tariffs fall to 30 per cent from 145 per cent.

The TSX was up by 181.10 points at 9:14 CDT to trade at 25,538.84.

Crude oil was higher in early trade, with West Texas Intermediate crude oil up by 3.06 per cent at US$62.89 per barrel.