By MarketsFarm
WINNIPEG, May 21 (MarketsFarm) – The Canadian dollar was up Tuesday morning, as trading resumed following the Victoria Day long weekend.
As of 8:44 CDT, the Canadian dollar was at US$0.7456 or C$1.3408 Tuesday morning. That compares to Friday’s North American close of US$0.7425 or C$1.3468.
Increasing tensions between the United States and Iran and speculation that OPEC and Russia will continue their supply cuts into the summer have provided support for crude oil prices Tuesday morning. Concerns over the U.S./China trade war weighed on values.
West Texas Intermediate crude oil slipped 16 cents at US$62.94 per barrel Tuesday morning. Brent crude oil was up six cents to US$72.03 per barrel.
The TSX/S&P Composite Index resumed trading Tuesday morning. The TSX slipped 34.14 points at 16,367.61 points.
Gold was down US$5.90 on Tuesday morning to US$1,271.40 per ounce.
