By Commodity News Service Canada
WINNIPEG, MB, Jan. 14, 2018 (CNS Canada) – The Canadian dollar was weaker Monday morning, dragged down by concern over slowing global economic growth.
At 8:45 CST Monday morning the Canadian dollar was at US$0.7532 or C$1.3272, which compares with Friday’s North American close of US$0.7542 or C$1.3259.
Oil prices were down Monday morning, as data released showed that exports to China, the world’s largest oil consumer, were down. Brent crude prices fell 52 U.S. cents to US$59.96 per barrel. United States crude lost 48 U.S. cents to US$51.11 per barrel.
Gold prices rose Monday, as investors rushed to commodities as weak Chinese trade data stoked fears of a global economic slowdown. Spot gold added 0.5 per cent to US$1,293.80 per ounce, while U.S. gold futures were up 0.4 per cent to US$1,294.50 per ounce.
The Toronto TSX/S&P Composite Index opened lower Friday, dragged down by a drop in the price of oil. The TSX/S&P lost 45.94 points, or 0.31 per cent, to 14,893.24, shortly after open.
