Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, March 14 (CNS Canada) – The Canadian dollar was slightly weaker Monday morning, as declines in crude oil weighed on the energy linked currency.

At 8:50 CDT Monday morning the Canadian dollar was at US$0.7523 or C$1.3293 which compares with Friday’s North American close of US$0.7558 or C$1.3231.

Crude oil was down to start the week amid reports that Iran was backing away from a coordinated production freeze being discussed by OPEC members.

The US Federal Reserve will meet later this week to discuss interest rates, although most analysts don’t anticipate any increases in the US rates until the summer.

The TSX was stronger, up 7.23 points at 8:50 CDT to sit at 13,529.23.