Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Aug. 22 (MarketsFarm) – The Canadian dollar was slightly lower on Monday morning, as the United States dollar increased in strength and crude oil prices slid downwards.
As of 8:36 am CDT, the Canadian dollar was at US$0.7682 or C$1.3021, compared to Friday’s close of US$0.7698 or C$1.2991.
On the U.S. Dollar Index, the greenback advanced 0.217 of a point at 108.315.
Benchmark crude oil prices were weaker on Monday morning, as the U.S. is willing to resume talks with Iran over the latter’s nuclear program. A deal would lift U.S. sanctions on Iranian oil exports in return for some foreign oversight of its nuclear program.
West Texas Intermediate (WTI) lost US$3.01 at US$87.76 per barrel. Brent crude oil gave up US$2.80 at US$93.92 per barrel. Western Canadian Select (WCS) was down US$1.08 at US$68.86 per barrel.
At the open, the TSX/S&P Composite Index dropped 194.38 points at 19,917.00.
Gold fell US$14.40 at US$1,748.50 per ounce.
