Advertisement

Canadian dollar and business outlook

| 1 min read

By Commodity News Service Canada

WINNIPEG, April 6 (CNS Canada) The Canadian dollar held steady against its US counterpart on Wednesday, pressured by weak global growth, and as a widening trade deficit continued to hang over the market.

Currency markets have had negative tone in previous sessions, as stock markets have been pulling back, and global economies remain sluggish, which took its toll on the loonie on Wednesday.

But gains in crude oil futures provided some underlying support to the market.

At 8:45 a.m. CDT, the Canadian dollar was at US$0.7604 or C$1.3151 which compares with Tuesday’s North American close of US$0.7601, or C$1.3157.

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

The TSX was weaker in early activity, down 14.60 points at 8:45 a.m. CDT to sit at 13,290.06.