By MarketsFarm
WINNIPEG, July 5 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, as a downturn in crude oil weighed on the energy-linked currency.
At 8:44 a.m. CDT Tuesday morning the Canadian dollar was at US$0.7690 or US$1=C$1.3004, which compares with Monday’s close of US$0.7772 or US$1=C$1.2867.
Concerns over a possible global recession were back at the forefront of the financial markets on Tuesday, causing investors to back away from riskier assets.
That ‘risk-off’ sentiment was especially prevalent in crude oil, with West Texas Intermediate down by 3.7 per cent in early activity at US$104.47 per barrel.
The TSX was also weaker, down 246.96 points at 8:44 CDT, trading at 18,781.90 points.
