By MarketsFarm
WINNIPEG, Sep. 3 (MarketsFarm) The Canadian dollar was weaker Tuesday morning, dipping below the 75 U.S. cent mark as losses in crude oil and global economic uncertainty weighed on the currency.
At 9:11 CDT Tuesday morning the Canadian dollar was at US$0.7485 or C$1.3369 which compares with Friday’s North American close of US$0.7522 or C$1.3295.
The ongoing trade dispute between the United States and China kept international markets on edge after the Labour Day long weekend, as fresh tariffs went into effect and the two countries remain at odds.
Rising output from OPEC nations and Russia weighed on crude oil, which added to the softer tone in the energy-linked Canadian dollar. West Texas Intermediate was down by nearly two dollars per barrel Tuesday morning, trading at US$53.23 per barrel.
The TSX was weaker Tuesday morning, down 13.26 points at 9:11 CDT to sit at 16,428.81.
