By Commodity News Service Canada
WINNIPEG, Feb. 4 (CNS Canada) – The Canadian dollar is down Monday morning as oil prices slipped and the United States dollar gained ground.
At 8:48 CST Monday morning the Canadian dollar was at US$0.7616 or C$1.3125, which compares with Friday’s North American close of US$0.7637 or C$1.3095.
The U.S. dollar snapped its two-week losing streak Monday morning as the U.S. Federal Reserve said last week it would be cautious about further interest rate hikes.
The TSX/S&P Composite Index was up 19.68 points Monday morning at 15,525.99.
Oil prices are down US$1 Monday morning. West Texas Intermediate crude is at US$54.26 per barrel after closing Friday at US$55.26. Forecasts of an economic slowdown and weaker demand led to oil losing ground to start the week.
Gold is down by US$5.30 Monday morning to US$1,314.00 per ounce.
