By MarketsFarm
WINNIPEG, June 8 (MarketsFarm) – The Canadian dollar was stronger on Monday morning due to comparable weakness in the United States dollar.
At 8:30 CDT Monday morning the Canadian dollar was at US$0.7465 or C$1.3395, which compares with Friday’s North American close of US$0.7447 or C$1.3429.
Benchmark crude oil indices were weaker due to an announcement that Saudi Arabia will cease production cuts after this month. Hundreds of thousands of barrels of oil could flood the market after Saudi Arabia lifts cutbacks, along with Kuwait and the United Arab Emirates.
The TSX was up by 98.63 points at 8:30 CDT to trade at 15,955.70 points.
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