Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, March 9 The Canadian dollar held steady against its US counterpart on Wednesday, supported by higher crude oil prices.

At 8:40 a.m. CST the Canadian dollar was at US$0.7455 or C$1.3414 which compares with Tuesday’s North American close of US$0.7454, or C$1.3416.

At 8:40 a.m. New York mercantile crude oil futures had gained US$0.57 per barrel to sit at US$37.07.

Canada produced 20.2 million cubic metres of crude oil and equivalent products in December, up 3.5 per cent compared with the same month in 2014, Statistics Canada said in a report on Wednesday.

The TSX was stronger in early activity, up 96.98 points at 8:40 a.m. CST to sit at 13,408.03.