Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Jan. 25 (MarketsFarm) – The Canadian dollar was holding relatively steady Monday morning, lacking any clear direction to start the week.
At 8:39 CST Monday morning the Canadian dollar was at US$0.7861 or US$1=C$1.2721 which compares with Friday’s North American close of US$0.7864 or US$1=C$1.2716.
Canadian manufacturing sales were up by 0.6 per cent in December, according to flash estimates from Statistics Canada.
The government agency also reported that business openings in October exceeded closures for the third consecutive month, causing the total number of active business in the country to rise by 0.6 per cent. However, active businesses were still down by 6.7 per cent from February 2020.
Crude oil was slightly weaker in early activity, with West Texas Intermediate down by 0.4 per cent in early activity, at US$52.08 per barrel.
The TSX was down by 18.62 points at 8:39 CST to trade at 17,827.29 points.

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