Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, MB, April 22, 2014 – The Canadian dollar was up slightly against its US counterpart Tuesday morning as the loonie hung in a sideways trading pattern.

Traders are waiting for the release of US jobless numbers and US durable-goods orders, both scheduled for Thursday, before any major price fluctuations are expected to take place, said an analyst.

June bullion rose US$1.60 to US$1,290.10 an ounce while the May crude oil contract was bearish, falling 46 cents to US$103.91 a barrel.

At 8:50 CDT Tuesday, the Canadian dollar was at US$0.9086 or US$=C$1.1006 which compares with Monday’s North American close of US $0.9079, or US$=C$1.1015.

The TSX was up 7.29 points Tuesday morning at 8:50 CDT, to sit at 14,500.97.