Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 19 (MarketsFarm) – The Canadian dollar was pulling back on Monday morning, due to a stronger United States dollar and weakness in crude oil prices.
As of 8:35 am CDT, the Canadian dollar was at US$0.7500 or C$1.3330, compared to Friday’s close of US$0.7527 or C$1.3285.
On the U.S. Dollar Index, the greenback pushed higher 0.254 of a point at 109.760.
Benchmark crude oil prices were lower on Monday morning, as the U.S. dollar remained strong and on the pretext of several central banks raising their interest rates this week, including the U.S. Federal Reserve.
Brent crude oil lost US$2.74 at US$88.61 per barrel. West Texas Intermediate (WTI) dropped US$2.87 at US$82.24/barrel. Western Canadian Select (WCS) retreated US$2.61 at US$61.33/barrel.
At the opening, the TSX/S&P Composite Index fell 182.62 points at 19,203.26.
Gold lost US$10.20 at US$1,673.30 per ounce
