Canadian Dollar and Business Outlook: Loonie holding firm
Little movement in greenback, crude oil
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was relatively steady on Monday morning, with little movement in the United States dollar and in crude oil prices.
As of 8:38 am CST, the loonie was at US$0.7384 or US$1=C$1.3542 compared to Friday’s close of US$0.7389 or C$1.3533. On the U.S. Dollar Index, the greenback was relatively steady, nudging up 0.021 of a point at 103.085.
Benchmark crude oil prices were modestly higher Monday morning, due to improved economic data out of China. Brent crude oil gained 78 cents at US$86.12 per barrel, while West Texas Intermediate rose 87 cents at US$81.91.
Ahead of tomorrow’s inflation report from Statistics Canada, economists projected the consumer price index to rise to 3.1 per cent in February.
Shortly after Monday’s open the TSX/S&P Composite Index slipped 16.00 points at 21,833.15.
Gold dipped US$1.20 at US2,160.30 per ounce.
