WINNIPEG, Feb. 1 (MarketsFarm) – The Canadian dollar was slightly lower Monday morning due to increases in crude oil prices.
As of 8:47 a.m. CST, the Canadian dollar was at US$0.7817 or C$1.2793, compared to Friday’s close of US$0.7825 or C$1.2780.
Benchmark crude oil prices were up on Monday morning due to falling inventories and investors’ hopes for a swift economic recovery.
Brent crude oil increased to US$55.94 per barrel. West Texas Intermediate (WTI) rose to US$53.03/barrel. Western Canadian Select (WCS) went up at US$39.41/barrel.
At the opening the TSX/S&P Composite Index jumped 225.90 points at 17,562.92.
Gold was up US$18.90 at US$1,869.20 per ounce.
