Canadian dollar and business outlook

Glacier FarmMedia — The Canadian dollar was holding steady relative to its United States counterpart Wednesday morning.

• At 8:41 a.m. CDT the Canadian dollar was trading at US$0.7265 or US$1=C$1.3765 which compares with Tuesday’s close of US$0.7269 or US$1=C$1.3757.
• Canadian factory sales were up by 3.6 per cent in February compared to the previous month, hitting C$71.2 billion, reported Statistics Canada. That came in below pre-report expectations for 3.8 per cent growth.
• Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose 2.0 per cent in February at C$86.8 billion.
• The ongoing conflict in the Middle East kept some caution in world energy markets. West Texas Intermediate was down 0.5 per cent at US$90.87 per barrel.
• The TSX was up 22.41 points at 8:41 CDT to trade at 34,124.77.

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