By MarketsFarm
WINNIPEG, April 13 (MarketsFarm) – The Canadian dollar was holding steady Monday morning, as the currency reacted to activity in the energy markets.
At 9:07 CDT Monday morning the Canadian dollar was at US$0.7156 or C$1.4132 which compares with Thursday’s North American close of US$0.7151 or C$1.3985.
Markets were closed Friday for Good Friday. Many International markets remained closed for Easter Monday, limiting some of the activity in North America.
A move by OPEC and its allies, including Russia, to cut oil production over the weekend initially provided some support for crude prices. However, concerns that the cuts won’t be enough, as demand has dropped sharply due to COVID-19, had oil back under pressure on Monday morning.
The TSX was down by 174.61 points at 9:07 CDT to trade at 13,992.02 points.
