By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar eased back on Monday, despite support from stronger crude oil.
The loonie closed at US$0.7307 or US$1=C$1.3686 compared to Wednesday’s close of US$0.7313 or US$1=C$1.3674. On the U.S. Dollar Index, the greenback inched up 0.017 of a point at 97.715.
Benchmark crude oil prices increased on Monday, as hopes for a Russia-Ukraine peace deal diminished and rising tensions in Yemen raised concerns about possible supply disruptions.
Also, there was some consternation in the market as the U.S. government missed its deadline to issue its stockpiles report and didn’t provide a new date for its release.
West Texas Intermediate advanced US1.14 at US$57.88 per barrel, while Brent crude gained US$1.11 at US$61.75/barrel.
The TSX Composite Index lost 103.17 points on Monday at 31,896.59.
Gold fell US$196.80 at US$4,355.90 per ounce.
