By MarketsFarm
WINNIPEG, Jan. 11 (MarketsFarm) – The Canadian dollar lower Monday amid increases in the United States Dollar and declines in crude oil prices.
As of 8:47 CST, the Canadian dollar was at US$0.7792 or C$1.2822, compared to Friday’s close of US$0.7871 or C$1.2705.
The greenback surged above 90 points on the U.S. Dollar Index to be at 90.635 points.
Benchmark crude oil prices were lower Monday morning, due to the rise of the U.S. dollar and the feeling in the markets that crude is overbought.
Brent crude oil fell 80 cents at US$55.19 per barrel. West Texas Intermediate (WTI) was down 53 cents at US$51.71 per barrel. Western Canadian Select (WCS) lost 76 cents at US$36.95 per barrel.
At the start of trading, the TSX/S&P Composite Index was down 41.49 points at 18,000.58.
Gold dropped US$9.04 at US$1,839.97 per ounce.
