Glacier FarmMedia – The Canadian dollar advanced on Monday, getting some support from higher crude oil prices.
The loonie was at US$0.7124 or US$1=C$1.4037 as of 8:32 a.m. CST, compared to Friday’s close at US$0.7111 or US$1=C$1.4063.
The United States Dollar Index was down 0.05 of a point at 99.55. The U.S. Senate passed a motion on Sunday which would fund the government and hold a later vote on Affordable Care Act credits, the first step towards ending the longest government shutdown in history.
The new deal passed by the Senate brought optimism to crude oil markets. Brent crude oil was up US$0.36 per barrel at US$63.99/barrel. West Texas Intermediate also added US$0.36 at US$60.11/barrel.
The TSX/S&P Composite Index jumped 346.57 points at 30,258.76.
Gold surged US$81.90 per ounce at US$4,091.70.
Markets will be closed on Tuesday for Remembrance Day in Canada and Veterans Day in the U.S.
