Canadian dollar and business outlook

Glacier FarmMedia — The Canadian dollar was holding steady Monday morning, despite a rally in crude oil.

• At 8:47 a.m. CDT the Canadian dollar was trading at US$0.7228 or US$1=C$1.3835 which compares with Friday’s close of US$0.7233 or US$1=C$1.3825.
• The total value of building permits issued in Canada decreased by 8.4 per cent in February to reach $12.1 billion, reported Statistics Canada. The non-residential sector accounted for all of the decline, falling by C$1.3 billion while the residential sector was up by C$135.6 million.
• Failed talks between the United States and Iran over the weekend sent oil prices climbing higher, as U.S. President Donald Trump threatened to blockade vessels going to and from Iran.
• West Texas Intermediate was down seven per cent at US$103.44 per barrel.
• The TSX was down 133.25 points, or 0.40 per cent at 8:47 CDT to trade at 33,562.51.

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