Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Nov. 23 (MarketsFarm) – The Canadian dollar was holding steady Monday morning, with gains in crude oil providing some underlying support.
At 8:46 CST Monday morning the Canadian dollar was at US$0.7654 or C$1.3065 which compares with Friday’s North American close of US$0.7651 or C$1.3071.
Optimism that a COVID-19 vaccine will soon become available, as a number of candidates move through the approval process, underpinned equities and crude oil to start the week.
Canadian wholesale sales were up by 0.9 per cent in October, according to preliminary data from Statistics Canada. The official data will be released on Dec. 16.
West Texas Intermediate crude oil up 1.0 per cent in early activity, at US$42.83 per barrel.
The TSX was up by 67.75 points at 8:46 CST to trade at 17,086.85 points.


Stories from our other publications