Canadian dollar and business outlook

Glacier FarmMedia | MarketsFarm — The Canadian dollar was slightly softer relative to its United States counterpart Tuesday morning.

At 9:05 a.m. CDT the Canadian dollar was trading at US$0.7138 or US$1=C$1.4010 which compares with Monday’s close of US$0.7144 or US$1=C$1.3998.

Consumer prices in the U.S. increased by 2.3 per cent on an annual basis in April, which was down from 2.4 per cent the previous month and short of trade expectations.

The TSX was up by 116.82 points at 9:05 CDT to trade at 25,649.00.

Crude oil was higher in early trade, with West Texas Intermediate crude oil up by 1.18 per cent at US$62.68 per barrel.