Canadian dollar and business outlook
WINNIPEG, March 25 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, hitting its best levels in five days as general weakness in the United States dollar index provided support.
At 9:02 CDT Wednesday morning the Canadian dollar was at US$0.6970 or C$1.4347 which compares with Tuesday’s North American close of US$0.6901 or C$1.4491.
U.S. politicians approved a stimulus package worth US$2 trillion on Tuesday to prop up the country’s economy in the face of the COVID-19 pandemic.
Crude oil was slightly softer in early activity, putting some pressure on the energy-linked Canadian currency.
The TSX was up by 51.16 points at 9:02 CDT to trade at 12,622.24 points.