By MarketsFarm
WINNIPEG, Nov. 18 (MarketsFarm) – The Canadian dollar was steady Monday morning despite weaker crude oil prices and declines on the North American stock markets.
As of 8:47 CDT, the Canadian dollar was at US$0.7561 or C$1.3225. That compares to Friday’s North American close of US$0.7558 or C$1.3231.
Crude oil prices were weaker Monday morning as the markets seek clarity on United States/China trade talks. The two countries have continued negotiations by teleconference while their tentative deal, Phase One, has yet to be signed.
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Brent crude oil slipped 42 cents at US$62.88 per barrel and West Texas Intermediate was lower by 46 cents at US$57.26 per barrel. Western Canadian Select was down 47 cents at US$41.43 per barrel.
At the start of trading on Monday, the TSX/S&P Composite Index opened with a decline of 29.28 points at 16,999.17, stepping back from its all-time high set on Friday.
As with crude oil, the stock markets have been waiting for clarity on U.S./China trade talks.
In the U.S., the Dow Jones opened 31.78 points lower at 27,973.11 and the NASDAQ was down 14.77 at 8,526.06 points. The S&P 500 eased downward 3.65 points at 3,116.81.
Gold was up US$2.58 at US$1,470.88 per ounce.
