WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar has fallen back below the US$0.80 mark on Friday as the stock market suffers early losses and oil prices become mixed.
As of 8:55 a.m. CDT, the loonie was at US$0.7980 or US$1=C$1.2531, compared to US$0.8027 or US$1=C$1.2458 when markets closed on Thursday.
Some benchmark oil prices decreased on Friday due to a recent selloff triggered by a rising U.S. dollar, larger U.S. oil inventories and softened demand in Asia.
Brent crude oil lost US$0.98 per barrel to US$62.30. West Texas Intermediate (WTI) dropped by US$0.89 to US$59.11/barrel. Western Canadian Select (WCS) increased by US$0.40 at US$49.35/barrel.
The TSX/S&P Composite Index is staying away from the 19,000 point mark, losing 21.15 points to 18,811.32.
Gold stayed relatively steady, declining US$0.23 to US$1,736.18 per ounce.
