WINNIPEG – The Canadian dollar declined on Monday as the United States dollar regained its strength.
As of 8:40 a.m. CDT, the loonie was at US$0.7750 or US$1=C$1.2903, compared to US$0.7817 or US$1=C$1.2792 on Friday. The U.S. Dollar Index is once again approaching a new 20-year high, gaining 0.57 of a point at 103.53.
The potential for new COVID-19 lockdowns in China has threated demand for crude oil. Brent crude oil retreated US$2.97 per barrel to US$104.17. West Texas Intermediate (WTI) fell back US$3.47 to US$101.22/barrel. Western Canadian Select (WCS) lost US$3.52 to US$88.12/barrel.
The TSX/S&P Composite Index declined 107.77 points to 20,654.23.
Gold tumbled US$49.60 per ounce to US$1,862.10.
