By MarketsFarm
WINNIPEG (MarketsFarm) – The Canadian dollar was steady Monday morning, as a rally in crude oil provided support for the energy-linked currency.
At 9:01 CDT Monday morning the Canadian dollar was at US$0.7545 or C$1.3254 which compares with Friday’s North American close of US$0.7543 or C$1.3257.
Attacks on Saudi Arabian crude processing facilities over the weekend cut oil production sharply and raised concerns over conflict in the Middle East. Oil prices were up by more than 10 per cent per barrel.
In domestic economic data, foreign investors reduced their holdings of Canadian securities by C$1.2 billion in July, according to Statistics Canada data. Meanwhile, Canadian investment in foreign securities increased to C$12.5 billion.
The TSX was stronger Monday morning, up 57.72 points at 9:01 CDT to sit at 16,740.14.
