Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, December 29 The Canadian dollar strengthened against its US counterpart on Tuesday, as crude oil futures gained ground.

At 8:45 a.m. CST, the Canadian dollar was at US$0.7209 or C$1.3872 which compares with the previous North American close of US$0.7192, or C$1.3904.

At 8:45 a.m., New York Mercantile crude oil futures had gained US$0.87 to sit at US$37.68 a barrel.

There was no significant economic data released by Statistics Canada on Tuesday.

The TSX was weaker in early activity, down 39.10 points at 8:45 a.m. CST to sit at 13,270.70.