By MarketsFarm
WINNIPEG, Oct. 31 (MarketsFarm) – The Canadian dollar was weaker Monday morning, with losses in crude oil weighing on the energy-linked currency.
At 8:48 a.m. CDT Monday morning the Canadian dollar was at US$0.7310 or US$1=C$1.3680, which compares with Friday’s close of US$0.7345 or US$1=C$1.3615.
Economic data out of China failed to live up to expectations, accounting for some of the weakness in crude oil. West Texas Intermediate crude oil was down by 1.8 per cent at US$86.28 per barrel.
Expectations that the United States Federal Reserve will boost interest rates by 75 basis points later this week were supportive for the U.S. dollar, contributing to the relative weakness in the Canadian currency.
The TSX was down by 2.63 points at 8:48 CDT, trading at 19,468.56 points.
