Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, March 21 (MarketsFarm) – The Canadian dollar was stronger Monday morning as advances in crude oil underpinned the energy-linked currency.
At 8:45 a.m. CDT Monday morning the Canadian dollar was at US$0.7937 or US$1=C$1.2599, which compares with Friday’s close of US$0.7926 or US$1=C$1.2617.
Reports that the European Union was considering placing a ban on Russian oil imports contributed to a rally in crude oil, with a Houthi attack on a Saudi energy terminal over the weekend also boosting prices.
West Texas Intermediate was up by 4.1 per cent at US$107.26 per barrel.
The TSX was higher, up 154.73 points at 8:45 CDT, trading at 21,973.20 points.

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