Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, July 14 (MarketsFarm) – The Canadian dollar was slightly weaker Tuesday morning, although activity was choppy ahead of Wednesday’s Bank of Canada interest rate decision.
At 8:57 CDT Tuesday morning the Canadian dollar was at US$0.7348 or C$1.3609 which compares with Monday’s North American close of US$0.7371 or C$1.3567.
Analysts generally expect the Bank of Canada will hold its key overnight rate steady at 0.25 per cent on Wednesday. However, the accompanying statement will be followed closely for signs of future moves and the Bank’s thoughts on economic recovery.
There were no significant domestic economic releases on Tuesday.
Crude oil was slightly weaker, with West Texas Intermediate down about 26 cents at US$39.84 per barrel.
The TSX was down by 27.32 points at 8:57 CDT to trade at 15,612.09 points.

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