WINNIPEG – The Canadian dollar dipped on Monday morning, but stayed above the 80 cent United States mark.
As of 8:55 a.m. CDT, the loonie was at US$0.8004 or US$1=C$1.2494, compared to US$0.8015 or US$1=C$1.2476 when markets closed on Friday.
Crude oil fell on Monday due to the growing number of cases of the COVID-19 Delta variant and uncertainty over future oil output. Brent crude dropped US$1.12 per barrel to US$74.43. West Texas Intermediate (WTI) lost US$0.94 to US$73.62/barrel. Western Canadian Select (WCS) plunged US$1.11 to US$60.73/barrel.
The TSX/S&P Composite Index held mostly steady, gaining 2.20 points at 20,260.15.
Gold decreased US$15.52 per ounce to US$1,792.80 due to higher U.S. Treasury bond yields.
