Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, Jan. 26 – The Canadian dollar was stronger Tuesday morning, as advances in crude oil helped underpin the energy-linked currency.

At 8:52 CST Tuesday morning the Canadian dollar was at US$0.7067 or C$1.4150 which compares with Monday’s North American close of US$0.7008 or C$1.4270.

The US Federal Reserve is holding policy meetings this week. The Fed is generally expected to keep rates steady, after raising them in December, but market participants will still be following the meetings closely for any news.

There were no significant domestic economic releases Tuesday morning.

The TSX was stronger, up 38.38 points at 8:52 CST to sit at 12,181.54.