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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, December 12 – The Canadian dollar gained ground against its US counterpart in early activity on Monday, tracking advances in crude oil.

New York Mercantile crude oil futures were higher Monday morning, continuing to gather support from an OPEC (Organization of the Petroleum Exporting Countries) production output cap.

At 8:32 CST Monday, the Canadian dollar was at US$0.7616 or US$=C$1.3130, which compares with Friday’s North American close of US$0.7587 or US$1=C$1.3180.

There was no significant domestic data released by Statistics Canada on Monday.

The TSX was up 42.20 points at 8:31 CST Monday morning to sit at 15,354.40.

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