Canadian Dollar And Business Outlook
By Commodity News Service Cana
Winnipeg, March 2 – The Canadian dollar was higher against its American counterpart Monday morning, despite weaker gas and commodity prices.
At 9:00 CDT Monday morning, the loonie was up 0.0033 of a cent to US$0.7981 or US$1 = C$1.2529. The loonie has been working to shrug off the lingering effects of weak oil prices and the rising strength of the American greenback.
The United States will struggle if it tries to impose any further sanctions on the Russian energy sector, according to a new report. Analysts say Russia could tighten gas supplies to Europe if that happens.
The strength of the US dollar could cut into corporate earnings even more, warned a broker.
On the commodity markets the April crude contract in New York fell U$0.50 to US$46.19 a barrel. The April gold contract dipped $1.50 to US$1,184.70 an ounce.
At 9:00 CDT Monday morning, the TSX was up 56.55 points to 14,998.92
