By MarketsFarm
WINNIPEG, June 3 (MarketsFarm) – The Canadian dollar was stronger Monday morning on rising crude oil prices.
As of 8:38 CDT, the Canadian dollar was at US$0.7415 or C$1.3482. That compares to Friday’s North American close of US$0.7393 or C$1.3527.
Crude oil prices were up this morning, as Saudi Arabia stated OPEC and the cartel’s allies would manage global oil supplies to avoid a surplus. West Texas Intermediate crude oil was up 61 cents US$54.11 per barrel, while Brent crude oil was up 45 cents at US$62.44 per barrel.
The TSX/S&P Composite Index was up slightly by 6.54 points at 16,044.03 points. Concerns of the global economy being pulled into a recession due to the United States/China trade war created a cautious tone.
Gold was up US$8.90 at US$1,320.00 per ounce.
