Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, April 11 (CNS Canada) The Canadian dollar was stronger Monday morning, as gains in crude oil provided some support.

At 9:06 CDT Monday morning the Canadian dollar was at US$0.7745 or C$1.2911 which compares with Friday’s North American close of US$0.7691 or C$1.3002.

Chart-based activity contributed to the strength in the Canadian dollar, as values moved through some nearby technical levels.

There were no significant domestic economic releases Monday morning. The Bank of Canada is set to make its latest interest rate announcement on Wednesday. While market participants are not anticipating any changes, the accompanying statement will be watched closely for signs of future moves.

The TSX was stronger, up 118.36 points at 9:06 CDT to sit at 13,515.09.