Canadian dollar and business outlook

Glacier FarmMedia — The Canadian dollar was firmer Thursday morning, continuing to gain ground relative to its United States counterpart.

• At 8:55 a.m. CDT the Canadian dollar was trading at US$0.7291 or US$1=C$1.3716 which compares with Wednesday’s close of US$0.7275 or US$1=C$1.3746.
• New motor vehicle sales in Canada were down by 0.9 per cent in February compared to the same month a year ago, reported Statistics Canada. However, in dollar terms, sales only dipped by 0.1 per cent on the year.
• The ongoing conflict in the Middle East remained a feature of the global financial markets, with more talks between the U.S. and Iran expected this weekend. West Texas Intermediate was up 1.6 per cent at US$89.53 per barrel.
• The TSX was 40.06 points higher at 8:55 CDT to trade at 34,196.05.

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