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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Nov. 30 (MarketsFarm) – The Canadian dollar was stronger on Monday.

     At 8:55 CST Monday morning the Canadian dollar was at US$0.7726 or US$1=C$1.2943, which compares with Friday’s North American close of US$0.7701 or US$1=C$1.2985.

The Canadian government will unveil new spending plans later today, detailing the cost of emergency support measures for the second wave of the COVID-19 pandemic. This will be the first fiscal planning document drafted by Finance Minister Chrystia Freeland, who took over the role in August.

Global stock indices were mixed on Monday, though data indicates stock markets are on the precipice of a record-breaking month due to strides in the COVID-19 vaccine realm.

The TSX was down 99.42 points at 9:00 CST to trade at 17,295.08 points.

Crude oil prices were slightly lower in early morning activity. West Texas Intermediate (WTI) was down 26 cents at US$45.27 per barrel. Brent Crude lost 45 cents to trade at US$47.73.

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