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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, March 12 (CNS Canada) The Canadian dollar was holding near unchanged Monday morning, seeing some consolidation to start the week.

At 9:17 CDT Monday morning the Canadian dollar was at US$0.7798 or C$1.2824, which compares with Friday’s North American close of US$0.7788 or C$1.2840.

Ongoing uncertainty over the global trade situation lent a cautious tone to the financial markets. Crude oil was down slightly in early activity, putting some pressure on the energy-linked currency.

Bank of Canada Governor Stephen Poloz is set to give a speech on labour markets on Tuesday that could provide some nearby direction for the Canadian dollar.

The TSX was stronger at 9:17 CDT, up 16.52 points at 15,594.33.

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