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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, May 25 (MarketsFarm) – The Canadian dollar was slightly firmer Monday morning, although activity was thin and choppy with many markets in the United States closed for Memorial Day.
At 8:54 CDT Monday morning the Canadian dollar was at US$0.7147 or C$1.3992 which compares with Friday’s North American close of US$0.7135 or C$1.4015.
Major Canadian air carriers flew 4.3 million passengers in March, which was down by 44 per cent from the same month the previous year, according to a report from Statistics Canada. The Canadian border was closed to international travellers halfway through the month, and even larger declines are expected in the April data.
Strength in Australian and Japanese markets overnight provided some support for the Canadian market to start the week.
The TSX was up by 124.26 points at 8:54 CDT to trade at 15,037.90 points.

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