By MarketsFarm
WINNIPEG, June 6 (MarketsFarm) The Canadian dollar was firmer Monday morning, with strength in crude oil and world equities providing some support.
At 8:58 a.m. CDT Monday morning the Canadian dollar was at US$0.7968 or C$1.2550 which compares with Friday’s North American close of US$0.7950 or C$1.2579.
A move by Saudi Arabia to increase its official selling prices for crude oil to Asia was seen as a sign of increasing confidence in the demand outlook, according to reports. However, OPEC+ announced last week that they would increase production in July and August, which put some pressure on oil values.
West Texas Intermediate was up by 0.5 per cent at US$119.50 per barrel.
There were no significant domestic economic releases on Monday.
The TSX was up by 74.76 points at 8:58 CDT to trade at 20,865.49 points.
