Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 15 (MarketsFarm) – The Canadian dollar was lower on Tuesday morning, due to declines in global crude oil prices.
As of 8:35 am CDT, the Canadian dollar was at US$0.7798 or C$1.2825, compared to Monday’s close of US$0.7827 or C$1.2777.
On the U.S. Dollar Index, the greenback lost 0.269 of a point at 98.755.
Benchmark crude oil prices were weaker on Tuesday morning, as another round of COVID-19 lockdowns in China, the world’s largest crude importer, has raised demand concerns.
West Texas Intermediate (WTI) lost $6.65 at US$96.36 per barrel. Brent crude oil fell $6.81 at US$100.09 per barrel. Western Canadian Select (WCS) shed US$5.03 at US$82.99 per barrel.
Shortly after the open, the TSX/S&P Composite Index dropped 128.67 points at 21,052.11.
Gold tumbled US$39.90 at US$1,920.90 per ounce.
