By MarketsFarm
WINNIPEG, July 8 (MarketsFarm) The Canadian dollar was stronger on Monday morning, following rallying oil prices.
At 9:15 CDT, the Canadian dollar was at US$0.7653 or C$1.3061, which compares with Friday’s North American close of US$0.7634 or C$1.3099.
Oil prices were stronger on Monday due to tensions regarding Iran’s nuclear program. Gains were capped by continued concerns about global economic growth and oil demand. Brent Crude oil futures hovered around US$65 on Wednesday morning, up 80 cents. West Texas Intermediate prices were in the US$58 range, down 87 cents.
The TSX lost at 9:00 CDT, down 73.50 points at 16,468.00. The S&P 500 Index was down 10.90 points to hit 2,979.97. Similarly, the Dow Jones lost 89.93 points at 26,830.50. The NASDAQ also decreased, down 59.55 to hit 8,102.36.
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