By MarketsFarm
WINNIPEG, May 1 (MarketsFarm) – The Canadian dollar was weaker on Friday morning, following poor earnings reports from the crude oil sector.
At 8:40 CDT Friday morning the Canadian dollar was at US$0.7136 or C$1.4013, which compares with Thursday’s North American close of US$0.7189 or C$1.3910.
Imperial Oil Ltd. lost C$188 million in the first quarter of 2020 due to plunging demand caused by the COVID-19 pandemic.
Benchmark crude oil indices were slightly higher, bouncing back after considerable losses last week. WTI was up by US$1.15 at US$19.99 per barrel. Brent Crude was up by a penny at US$26.49 per barrel.
The TSX was down by 234.6 points at 8:40 CDT to trade at 14,548.25 points.
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