Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 29 (MarketsFarm) – The Canadian dollar was slightly higher on Monday morning, as it attempted to recover from Friday’s sharp drop.
As of 8:35 am CST, the Canadian dollar was at US$0.7839 or C$1.2752 compared to Friday’s close of US$0.7830 or C$1.2771.
On the U.S. Dollar Index, the greenback gained 0.256 at 96.360 points,
Benchmark crude oil prices were up sharply on Monday morning, recovering from Friday’s steep slide due to the emergence of the Omicron variant. Saudi Arabia and Russia signaled there was no need for the OPEC+ alliance to adjust their oil output policy this week despite the new, more contagious strain of COVID-19.
West Texas Intermediate (WTI) jumped US$4.37 at US$72.52 per barrel. Brent crude oil increased US$3.92 at US$76.64 per barrel. Western Canadian Select (WCS) rose US$4.52 at US$53.38 per barrel.
At the opening, the TSX/S&P Composite Index climbed 180.15 points at 21,306.05.
Gold dipped 50 cents at US$1,787.60 per ounce.
