Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Feb. 25 (MarketsFarm) – The Canadian dollar was stronger Friday morning, taking back some of Thursday’s losses as global financial markets continued to react to the developing situation in Ukraine.
At 8:42 a.m. CST Friday morning the Canadian dollar was at US$0.7824 or US$1=C$1.2781, which compares with Thursday’s close of US$0.7793 or US$1=C$1.2832.
The Bank of Canada will make its next policy announcement on Wednesday, March 2, with many analysts expecting a 25 point rate hike.
Crude oil was lower Friday morning, putting some pressure on the energy-linked currency.
West Texas Intermediate was down by 0.9 per cent at US$91.96 per barrel.
The TSX was higher, up 77.54 points at 8:42 CST, trading at 20,839.47 points.

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