Canadian dollar and business outlook

WINNIPEG – The Canadian dollar was holding steady Tuesday morning, as gains in crude oil provided some underlying support for the energy-linked currency.
At 9:04 CDT Tuesday morning the Canadian dollar was at US$0.7541 or C$1.3261 which compares with Monday’s North American close of US$0.7537 or C$1.3267.
Crude oil was stronger on Tuesday amid ideas that OPEC (the Organization of Petroleum Exporting Countries) will extend production cuts when members meet later in June.
Twitter rumblings from United States President Donald Trump about lowering U.S. interest rates were also supportive for the Canadian currency as such a move would weigh on the U.S. dollar.
The TSX was stronger Tuesday morning, up 73.49 points at 9:04 CDT to sit at 16,289.75.

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