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Canadian Dollar and Business Outlook: Loonie up, TSX given a jolt

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Glacier FarmMedia | MarketsFarm – The Canadian dollar moved towards the 70 United States cent mark on Monday morning.

The loonie was at US$0.6983 or US$1=C$1.4320 as of 8:35 a.m. CDT, compared to Friday’s close at US$0.6970 or US$1=C$1.4347. Prime Minister Mark Carney called a snap federal election on Sunday to be held on April 28.

The United States Dollar Index was unchanged at 104.09.

Crude oil was slightly higher on Monday. West Texas Intermediate (WTI) was up US$0.10 at US$68.38 per barrel. Brent crude oil was US$0.09 higher at US$72.25/barrel.

On the heels of news reports U.S. President Donald Trump will soften his intended tariffs on Canadian and Mexican imports to be in effect April 2, the TSX/S&P Composite Index jumped 261.59 points at 25,230.08.

Gold gained US$8.70 per ounce at $3,030.10.