By MarketsFarm
WINNIPEG, July 29 (MarketsFarm) – The Canadian dollar was down Monday morning, on earlier dips in crude oil prices.
As of 8:58 CDT, the Canadian dollar was at US$0.7602 or C$1.3150. That compares to Friday’s North American close of US$0.7586 or C$1.3182.
Crude oil prices were up Monday morning, after trying to shake off downward pressure stemming from pessimism surrounding United States/China trade talks that started today in Shanghai. U.S. President Donald Trump tweeted that China may not want a deal until after the 2020 U.S. presidential election. Face-to-face negotiations are scheduled to continue on Tuesday.
West Texas Intermediate crude oil was up 33 cents at US$56.53 per barrel, and Brent crude oil up 14 cents at US$63.60 per barrel.
At the start of trading the TSX/S&P Composite Index was down 23.34 points at 16,507.70 points, due to the negative tone from U.S./China trade negotiations.
Gold was down US$1.60 at US$1,417.80 per ounce.
