Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, March 21 (CNS Canada) The Canadian dollar was slightly weaker Monday morning, seeing some consolidation to start the week after posting sizeable gains the previous week.

At 8:57 CDT Monday morning the Canadian dollar was at US$0.7660 or C$1.3055 which compares with Friday’s North American close of US$0.7670 or C$1.3037.

Canada’s newly elected Liberal government is set to unveil its first budget on Tuesday, and market participants will be following the news out of Ottawa closely.

Crude oil was holding onto small gains, which provided some underlying support for the energy-linked currency.

The TSX was stronger, up 45.67 points at 8:57 CDT to sit at 13,542.80.