By Commodity News Service Canada
WINNIPEG, May 28 (CNS Canada) The Canadian dollar was slightly weaker Monday morning in thin trade. Activity was on the quiet side with U.S. markets closed for Memorial Day and United Kingdom markets closed for a bank holiday.
At 9:05 CDT Monday morning the Canadian dollar was at US$0.7698 or C$1.2990, which compares with Friday’s North American close of US$0.7708 or C$1.2974.
Losses in crude oil put some pressure on the energy-linked Canadian dollar, with Saudi Arabia and Russia both considering increasing supplies.
The Bank of Canada makes is set to make its latest interest rate announcement on Wednesday. Most investors expect the Bank will leave rates unchanged this month, although the accompanying statement will be followed closely for signs of future moves.
The TSX was weaker at 9:05 CDT, down 16.13 points at 16,059.54.
