By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar drifted lower on Monday morning, getting little direction from the United States dollar or crude oil.
As of 8:39 am CST, the loonie was at US$0.7092 or US$1=C$1.4101 compared to Friday’s close of US$0.7102 or US$1=C$1.4109. On the U.S. Dollar Index, the greenback was relatively steady with a dip of 0.008 of a point at 100.105.
Benchmark crude oil prices were relatively steady on Monday morning, held in check by hopes of a peace deal to end the war in Ukraine and concerns regarding a global oversupply.
West Texas Intermediate was down two cents at US$58.04 per barrel and Brent crude oil shed five cents at US$62.51 per barrel.
In morning activity, the TSX/S&P Composite Index was up 89.29 points at 30,249.94.
Gold was down US$6.30 at US$4,073.20 per ounce.
