By MarketsFarm
WINNIPEG, Oct. 5 (MarketsFarm) – The Canadian dollar was higher on Monday morning, as the United States dollar was weaker and crude oil prices were stronger.
As of 8:40 CDT, the Canadian dollar was at US$0.7538 or C$1.3266, compared to Friday’s close of US$0.7513 or C$1.3310.
The U.S. Dollar Index slipped 0.354 at 93.555 points, meaning the greenback was losing ground to other major world currencies.
Benchmark crude oil prices were higher Monday morning, on news that U.S. President Donald Trump’s condition is reportedly improving. Trump could soon leave Walter Reed National Military Medical Center, where he has been getting treatment for COVID-19 for the last four days.
Brent crude oil gained US$1.76 at US$41.03 per barrel. West Texas Intermediate (WTI) jumped US$1.86 at US$38.91 per barrel.
Western Canadian Select (WCS) leapt US$1.80 at US$28.80 per barrel.
At the start of trading, the TSX/S&P Composite Index was up 65.77 points at 16,295.02.
Gold was up US$10.08 at US$1,910.24 per ounce.
