Glacier FarmMedia – The Canadian dollar was unchanged on Monday, amidst falling crude oil prices and a weaker United States dollar.
The loonie closed at US$0.7290 or US$1=C$1.3717, the same rate as Friday. The U.S. Dollar Index lost half a point at 99.14.
Crude oil dropped after U.S. President Donald Trump said he had “productive” discussions with Iranian leaders and delayed his deadline for the Strait of Hormuz to be re-opened by five days. However, Iran said it did not have discussions with Trump.
West Texas Intermediate pulled back US$9.44 per barrel at US$88.79. Brent crude oil lost US$12.37/barrel at US$99.82.
Trump’s comments lifted stock markets, including the TSX/S&P Composite Index, which gained 566.40 points at 31,883.81.
Gold gave up US$169.20 per ounce at US$4,405.70.
