Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Feb. 23 (MarketsFarm) – The Canadian dollar was holding steady Tuesday morning, as investors await a speech from Bank of Canada Governor Tiff Macklem later in the day.
At 8:42 CST Tuesday morning the Canadian dollar was at US$0.7934 or US$1=C$1.2604 which compares with Monday’s North American close of US$0.7928 or US$1=C$1.2613.
Macklem will speak about the pandemic and its impact on the economy at 11:30 CST. Currency traders will be following the speech closely for any clues on future interest rate adjustments.
Crude oil was softer in early activity, with West Texas Intermediate down by 0.7 per cent, at US$61.26 per barrel.
The TSX was down by 216.30 points at 8:42 CST to trade at 18,200.44 points.

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