Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, March 3 (MarketsFarm) The Canadian dollar was slightly softer Tuesday morning, seeing a modest correction after Monday’s gains.
At 9:12 CST Tuesday morning the Canadian dollar was at US$0.7483 or C$1.3387 which compares with Monday’s North American close of US$0.7487 or C$1.3356.
The United States Federal Open Market Committee announced a surprise interest rate cut this morning, cutting its key rate by half a point to 1.0 to 1.25 per cent. The move was made in light of mounting coronavirus concerns.
G7 finance ministers held a conference call to discuss the COVID-19 coronavirus and its impact on the global economy. While no specific measures were presented, G7 officials did reaffirm a commitment to use all tools available to safeguard against downside risks.

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Glacier FarmMedia — The Canadian dollar was slightly weaker on Monday, as the latest inflation data The Canadian dollar settled…

The Bank of Canada will make its latest policy statement on Wednesday, and investors were adjusting positions ahead of its release. Many economists now expect that the Bank will cut rates. The accompanying statement will be watched closely for future direction, especially in light of the COVID-19 coronavirus and Canadian rail blockades over the past month.
The TSX was up by 181.24 points at 9:12 CST to trade at 16,734.50 points.