Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, February 3 The Canadian dollar strengthened against its US counterpart on Wednesday, as crude oil futures gained ground.

At 8:45 a.m. CST the Canadian dollar was at US$0.7204 or C$1.3881 which compares with Tuesday’s North American close of US$0.7129, or C$1.4027.

New York Mercantile crude oil futures had gained US$0.86 a barrel to sit at US$30.74 at 8:45 a.m. on Wednesday.

There was no significant domestic data released by Statistics Canada on Wednesday.

The TSX was stronger in early activity, up 62.82 points at 8:45 a.m. CST to sit at 12,505.08.