By MarketsFarm
WINNIPEG, April 8 (MarketsFarm) – The Canadian dollar was up Monday morning as crude oil prices were also on the rise.
At 8:42 CDT Monday morning the Canadian dollar was at US$0.7493 or C$1.3340, which compares with Friday’s North American close of US$0.7470 or C$1.3386.
Benchmark crude oil prices were up on Monday morning due to OPEC/Russia-led supply cuts, United States sanctions against Iran and Venezuela and the outbreak of fighting in Libya. Tempering gains have been increased U.S. oil exports.
West Texas Intermediate crude oil was up 59 cents at US$63.67 per barrel Monday morning. Brent crude oil gained 29 cents to US$70.63 per barrel.
The TSX/S&P Composite Index was down Monday morning. The TSX lost 25.50 points at 16,370.65 points.
Housing starts in Canada were up in March, according to the Canada Housing and Mortgage Corporation. There were more than 192,500 single and multiple housing units built last month, an increase of nearly 16 per cent compared to February’s housing starts.
Gold was up US$11.20 on Monday morning at US$1,303.80 per ounce.
