By MarketsFarm
WINNIPEG, Jan. 27 (MarketsFarm) – The Canadian dollar was lower Monday morning as crude oil prices plummeted due fears regarding the coronavirus outbreak.
As of 8:40 CST, the Canadian dollar was at US$0.7580 or C$1.3191. That compares to Friday’s North American close of US$0.7610 or C$1.3140.
The coronavirus has now killed 81 people in China, with more than 2,800 reported cases. Other countries with confirmed cases include Australia, Cambodia, France, Japan, Singapore, South Korea, Taiwan, Thailand, the United States, and Vietnam. There are two presumptive cases reported in Canada.
Crude oil prices were down Monday morning, hitting three-month lows.
Brent crude oil fell US$1.60 at US$59.09 per barrel and West Texas Intermediate lost US$1.37 at US$52.82 per barrel. Western Canadian Select dropped US$1.47 at US$29.80 per barrel.
The TSX/S&P Composite Index sank 158.76 to start Monday at 17,406.58 points.
Gold was up US$11.00 at US$1,582.53 per ounce.
