Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, Jan. 30 (CNS Canada) – The Canadian dollar was stronger Wednesday morning, as gains in crude oil provided some support.
At 9:22 CST Wednesday morning the Canadian dollar was at US$0.7570 or C$1.3210 which compares with Tuesday’s North American close of US$0.7538 or C$1.3266.
Concerns over supply disruptions out of Venezuela gave oil a boost, which spilled into the energy-linked Canadian currency.
The United States Federal Reserve is set to make its next interest rate decision on Wednesday. The Fed is generally expected to be holding rates steady this month, but traders will be following the accompanying statement closely for signs of future moves.
The TSX was weaker in early activity, down 35.56 points at 9:22 CST to sit at 15,427.58.
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