Compiled by Glen Hallick, MarketsFarm
WINNIPEG, April 11 (MarketsFarm) – The Canadian dollar was lower on Monday morning, following an increase in the United States dollar and sharp declines in global crude oil prices.
As of 8:35 am CDT, the Canadian dollar was at US$0.7929 or C$1.2610, compared to Friday’s close of US$0.7943 or C$1.2589.
On the U.S. Dollar Index, the greenback gained 0.137 of a point at 99.890.
Benchmark crude oil prices were weaker on Monday morning, as demand from China wanes due to COVID-19.
West Texas Intermediate (WTI) fell US$3.76 at US$94.50 per barrel. Brent crude oil lost US$3.50 at US$99.28 per barrel. Meanwhile, Western Canadian Select (WCS) dropped US$3.58 at US$81.60 per barrel.
The TSX/S&P Composite Index was virtually unchanged at the open, with a slight dip of 0.58 of point at 21,813.77.
Gold jumped US$22.30 at US$1,967.90 per ounce.
