Canadian dollar and business outlook

WINNIPEG – The Canadian dollar was holding relatively steady Monday morning, with gains in crude oil providing some support.
At 8:59 CDT Monday morning the Canadian dollar was at US$0.7459 or C$1.3407 which compares with Friday’s North American close of US$0.7450 or C$1.3422.
Crude oil prices were higher to start the week, which underpinned the energy-linked Canadian currency. The strength in oil was linked to a slowdown in United States drilling activity and ideas that OPEC nations would continue to curtail production at least through June.
An unexpected increase in U.S. retail sales in January put some pressure on the Canadian dollar, limiting the upside as the U.S. dollar saw some strength internationally.
The TSX was stronger Monday morning, up 90.93 points at 8:59 CDT to sit at 16,087.14.
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