Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 11 (MarketsFarm) – The Canadian dollar was weaker on Monday morning, as the United States currency pushed ahead and crude oil prices retreated.
As of 8:36 am CDT, the Canadian dollar was at US$0.7675 or C$1.3032, compared to Friday’s close of US$0.7711 or C$1.2968.
On the U.S. Dollar Index, the greenback surged ahead 1.104 points at 107.925.
Benchmark crude oil prices were lower on Monday morning over concerns that China’s demand will wane again after being hit with another spike of COVID-19 cases.
West Texas Intermediate (WTI) lost US$1.74 at US$103.05 per barrel. Brent crude oil pulled back US$1.55 at US$105.47 per barrel. Western Canadian Select (WCS) gave up US$1.69 at US$81.15 per barrel.
At the open, the TSX/S&P Composite Index fell 117.61 points at 18,905.25.
Gold was down US$7.20 at US$1,735.10 per ounce.
