WINNIPEG – The Canadian dollar was higher on Monday, courtesy of a weakening United States greenback.
As of 8:36 a.m. CDT, the loonie was at US$0.7703 or US$1=C$1.2982, compared to US$0.7672 or US$1=C$1.3035 on Friday. The U.S. Dollar Index lost 0.66 of a point at 108.34.
The reversing U.S. dollar outweighed worldwide supply concerns, causing crude oil prices to jump. Brent crude oil added US$1.89 per barrel to US$94.73. West Texas Intermediate (WTI) rose US$1.76 at US$88.55/barrel. Western Canadian Select (WCS) was up US$2.12 to US$68.11/barrel.
The TSX/S&P Composite Index gained 125.95 points to 19,899.29.
Gold rallied US$10.00 per ounce to US$1,738.60.
