Canadian Dollar and Business Outlook: Weaker loonie

By Glen Hallick

Glacier FarmMedia MarketsFarm – The Canadian dollar fell back on Monday morning as its United States counterpart gained strength.

As of 8:35 am CDT, the loonie was at US$0.7258 or US$1=C$1.3775 compared to Friday’s close of US$0.7284 or US$1=C$1.3728. On the U.S. Dollar Index, the greenback advanced 0.568 of a point at 98.850.

Benchmark crude oil prices were modestly higher on Monday morning, as increases wane following the surge stemming from the U.S. attacks on Iran over the weekend.

Brent crude oil bumped up 21 cents at US$77.22 per barrel and West Texas Intermediate tacked on 20 cents at US$74.04.

Shortly after the TSX/S&P Composite Index opened, it was up 63.08 13.03 points at 26,560.65.

Gold was down US$2.40 at US$3,383.40 per ounce.