Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, March 2 (CNS Canada) – The Canadian dollar was weaker Wednesday morning, backing away from its nearby highs relative to its US counterpart as losses in crude oil put some pressure on the energy-linked currency.

At 8:44 CST Wednesday morning the Canadian dollar was at US$0.7419 or C$1.3479 which compares with Tuesday’s North American close of US$0.7455 or C$1.3414.

Some better-than-expected US jobs data out this morning provided some support for the US dollar, which in turn accounted for some of the relative weakness in the Canadian currency.

There were no significant domestic economic releases on Wednesday.

The TSX was stronger, up 48.27 points at 8:44 CST to sit at 13,030.37.