WINNIPEG – The Canadian dollar fell on Monday amidst lower oil prices, just one day after a federal election was called.
As of 9:04 a.m. CDT, the loonie was at US$0.7956 or US$1=C$1.2569, compared to US$0.7991 or US$1=C$1.2514 when markets closed on Friday. A federal election for Sept. 20 was called on Sunday.
Crude oil tumbled on Monday due to fears over the COVID-19 Delta variant. Brent crude oil sunk US$2.37 per barrel to US$68.22. West Texas Intermediate (WTI) lost US$2.57 to US$65.87/barrel. Western Canadian Select (WCS) dropped US$1.53 to US$53.70/barrel.
The TSX/S&P Composite Index shed 62.10 points at 20,455.97.
Gold increased US$4.33 per ounce to US$1,784.08.
