Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, April 9 (MarketsFarm) – The Canadian dollar was steady on Thursday morning, following a dismal employment report from Statistics Canada

     At 8:30 CST Thursday morning the Canadian dollar was at US$0.7128 or C$1.4035 which compares with Wednesday’s North American close of US$0.7126 or C$1.4029.

In March, the COVID-19 pandemic caused over one million Canadians to lose their jobs, which is significantly worse than the expected 500,000 jobs lost. That bring the unemployment rate to total 7.8 per cent, up from 5.6 per cent the previous month.

The TSX was up by 311.57 points at 8:30 CST to trade at 13,925.71 points.

Crude oil prices were higher ahead of a meeting between the Organization of Petroleum Exporting Countries (OPEC) and its allies, discussing production cuts. West Texas Intermediate was up US$1.24 at US$26.33 per barrel. Brent Crude was up $1.30 at US$34.14 per barrel.

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