WINNIPEG, Feb. 8 (MarketsFarm) – The Canadian dollar inched upward on Monday morning, looking past Friday’s news that 213,000 Canadians lost their jobs in January.
As of 8:36 a.m. CST, the Canadian dollar was at US$0.7839 or US$1=C$1.2755, compared to Friday’s close of US$0.7827 or US$1=C$1.2777.
Benchmark crude oil continued its rise on Monday morning on the heels of planned production cuts by oil producing nations.
Brent crude oil briefly crossed the US$60 mark, but still moved up US$0.54 to US$59.88 per barrel. West Texas Intermediate (WTI) bounced US$0.58 to US$57.43/barrel. Western Canadian Select (WCS) increased US$0.50 at US$47.04/barrel.
At the opening the TSX/S&P Composite Index jumped 93.93 to 18,135.90 on the strength of a potential stimulus package in the U.S. and the ongoing vaccine rollout.
Gold built on its gains from Friday, rising US$17.19 at US$1,831.30 per ounce.
