Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, May 18 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning, amid broad weakness for the United States dollar internationally.
At 8:50 a.m. CDT Tuesday morning, the Canadian dollar was at US$0.8304 or US$1=C$1.2042 which compares with Friday’s North American close of US$0.8277 or US$1=C$1.2081.
Recent strength in crude oil was also supportive for the energy-linked currency, although oil backed away from earlier gains to post small losses.
West Texas Intermediate crude oil was down by 0.4 per cent in early activity to trade at US$66.00 per barrel.
The TSX was stronger, up by 10.13 points at 8:50 CDT, trading at 19,484.78 points.

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