By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar eased back on Monday, positioning ahead of Wednesday’s interest rate announcements from the Bank of Canada and the United States Federal Reserve.
With both central banks likely to freeze their rates, the loonie finished at US$0.7287 or US$1=C$1.3723, compared to Friday’s close of US$0.7297 or US$1=C$1.3704.
The U.S. Dollar Index advanced 1.001 points at 98.400.
Benchmark crude oil prices were stronger on Monday after the U.S. and the European Union reached a trade deal. Also, U.S. President Donald Trump slashed his 50-day deadline for Russia to resolve its invasion of Ukraine to 10 to 12 days or face more sanctions.
West Texas Intermediate climbed US$1.88 at US$67.04 and Brent crude gained US$1.93 at US$70.37 per barrel.
The TSX Composite Index shed 88.93 points on Monday, to close at 27,405.42.
Gold dropped US$18.50 at US$3,317.10 per ounce.
