Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Aug. 10 (MarketsFarm) – The Canadian dollar was slightly firmer Monday morning, with gains in crude oil providing some underlying support for the currency.
At 8:58 CDT Monday morning the Canadian dollar was at US$0.7495 or C$1.3342 which compares with Friday’s North American close of US$0.7476 or C$1.3377.
Improving manufacturing data out of China and expectations for increasing energy demand accounted for some of the early strength in crude oil. West Texas Intermediate was up 1.5 per cent at US$41.86 per barrel.
Investors were also weighing the possible impact of executive orders signed by United States President Donald Trump over the weekend. The four orders came without the approval of Congress and include a payroll tax deferral.
The TSX was up by 62.77 points at 8:58 CDT to trade at 16,607.25 points.

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