By MarketsFarm
WINNIPEG, Sept. 10 (MarketsFarm) – The Canadian dollar was lower Tuesday morning, despite crude oil prices continuing to rise.
As of 8:41 CDT, the Canadian dollar was at US$0.7590 or C$1.3164. That compares to Monday’s North American close of US$0.7602 or C$1.3177.
Crude oil prices continued to increase Tuesday morning as the OPEC+ alliance is planning to maintain their production cuts. The alliance includes OPEC, Russia and other oil producing countries and will meet in the United Arab Emirates this week.
Brent crude was up 52 cents at US$63.11 and West Texas Intermediate crude oil was up 43 cents at US$58.28 per barrel. Western Canadian Select crude rose 38 cents at US$45.68 per barrel.
At the start of trading on Tuesday, the TSX/S&P Composite Index was down 17.46 points at 16,477.63.
Gold was down US$5.70 at US$1,505.40 per ounce.
