Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Oct. 17 (MarketsFarm) – The Canadian dollar was stronger Monday morning, as gains in crude oil provided some support.
At 9:15 a.m. CDT Monday morning the Canadian dollar was at US$0.7280 or US$1=C$1.3736, which compares with Friday’s close of US$0.7217 or US$1=C$1.3856.
While global economic uncertainty and recession fears continued to circulate the financial markets to start the week, tight oil supplies and expectations China will increase its energy reserves provided some support.
West Texas Intermediate crude oil was up by 1.0 per cent at 86.47 per barrel.
The TSX was up by 387.00 points at 9:15 CDT, trading at 18,713.35 points.

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