Canadian Dollar and Business Outlook

By Commodity News Service Canada

WINNIPEG, April 14 (CNS Canada) – The Canadian dollar was weaker Thursday morning, with a softer tone in crude oil behind some of the activity.

At 9:38 CDT Thursday morning the Canadian dollar was at US$0.7777 or C$1.2858 which compares with Wednesday’s North American close of US$0.7803 or C$1.2815.

Wednesday’s Bank of Canada monetary policy announcement was also still being digested by the market. The Bank left its key overnight rate unchanged at 0.5%, but expressed a bit more caution on the state of the economy going forward.

In domestic data, new home prices were up by 0.2% in February compared to the previous month, reported Statistics Canada.

The TSX was steady, up only 1.60 points at 9:38 CDT to sit at 13,672.95.