By MarketsFarm
WINNIPEG, June 15 (MarketsFarm) – The Canadian dollar was weaker Monday morning, as losses in crude oil weighed on the energy-linked currency.
At 8:36 CDT Friday morning the Canadian dollar was at US$0.7335 or C$1.3633 which compares with Friday’s North American close of US$0.7355 or C$1.3596.
West Texas Intermediate crude oil was down by nearly four per cent to start the week, with mounting concerns over a resurgence of COVID-19 behind some of the weakness. Positioning ahead of an OPEC meeting to discuss production cuts later this week was another factor in the energy markets.
Canadian manufacturing sales dropped by a record 28.5 per cent in April, to C$36.4 billion, according to a report from Statistics Canada. Sales were down in all 21 industries as COVID-19 distancing measures were implemented across the country.
The TSX was down by 250.79 points at 9:00 CDT to trade at 15,005.78 points.
