By MarketsFarm
WINNIPEG, Jan. 6 (MarketsFarm) – The Canadian dollar was steady Monday morning, despite increases in crude oil prices.
As of 8:49 CST, the Canadian dollar was at US$0.7703 or C$1.2986. That compares to Friday’s North American close of US$0.7699 or C$1.2988.
Crude oil prices were higher Monday morning due to increased tensions between United States and Iran that could lead to retaliatory strikes by either country or possibly a war.
Brent crude oil gained 59 cents at US$69.19 per barrel and West Texas Intermediate rose 32 cents at US$63.83 per barrel. Western Canadian Select was up US$1.21 at US$41.35 per barrel.
The TSX/S&P Composite Index opened slightly lower by 8.30 at 17,058.09 points. Expectations are the TSX could follow the U.S. stock markets downward on Monday as Middle East tensions weigh on values.
The price of gold jumped US$24.80 at US$1,577.20 per ounce.
