By Commodity News Service Canada
WINNIPEG, Dec. 22 – The Canadian dollar was weaker Monday morning, as losses in crude oil weighed on the energy linked currency.
At 9:13 CST Monday morning the Canadian dollar was at US$0.8598 or C$1.1631 which compares with Friday’s North American close of US$0.8615, or C$1.1608.
Crude oil was lower this morning amid sentiment out of Saudi Arabia that the country would increase output.
There were no significant domestic economic releases Monday morning, but gross domestic product data for October will be released on Tuesday.
With markets closing later in the week for the Christmas holiday some participants are already moving to the sidelines, which could lead to some choppiness in the currency markets.
The TSX was weaker in early activity, down 31.54 points at 9:13 CST to sit at 14,436.72.
