Glacier FarmMedia — The Canadian dollar was slightly firmer relative to its United States counterpart Monday morning amid broad geopolitical uncertainty and general risk aversion.
- At 8:46 a.m. CST the Canadian dollar was trading at US$0.7199 or US$1=C$1.3891 which compares with Friday’s close of US$0.7196 or US$1=C$1.3896.
- Gold climbed to record highs to start the week, hitting US$4,600 per ounce for the first time ever.
- Currency and commodity markets were reacting to a criminal investigation into U.S. Federal Reserve Chair Jerome Powell and his testimony on the US$2.5 billion renovation of the central bank’s headquarters. Powell said the investigation by the U.S. Department of Justice was an attempt by Donald Trump’s government to undermine the Fed’s independence setting interest rates.
- West Texas Intermediate crude oil was down 0.30 per cent at US$58.82 per barrel.
- The TSX was up 109.40 points at 8:46 CST to trade at 32,722.33.
