Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 24 (MarketsFarm) – The Canadian dollar weaker on Monday morning due to losses in crude oil prices and an increase in the United States dollar.
As of 8:36 am CST, the Canadian dollar was at US$0.7912 or C$1.2641, compared to Friday’s close of US$0.7971 or C$1.2545.
On the U.S. Dollar Index, the greenback climbed of 0.3979 of a point at 96.015.
Benchmark crude oil prices were lower on Monday morning in the face of a stronger U.S. dollar. However, tensions between Russia and Ukraine are tempering further declines in oil.
West Texas Intermediate (WTI) fell US$1.64 at US$83.50 per barrel. Brent crude oil declined US$1.44 at US$86.45 per barrel. Western Canadian Select (WCS) dipped 30 cents at US$70.44 per barrel.
At the open, the TSX/S&P Composite Index dropped 366.96 points at 20,254.43.
Gold was up US$7.70 at US$1,839.50 per ounce.
