Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Nov. 21 (MarketsFarm) – The Canadian dollar pulling back on Monday morning in the face of a stronger United States dollar and losses in crude oil prices.
As of 8:35 am CST, the Canadian dollar was at US$0.7436 or C$1.3447, compared to Friday’s close of US$0.7471 or C$1.3385.
On the U.S. Dollar Index, the greenback advanced 0.774 of a point at 107.600.
Benchmark crude oil prices were lower on Monday morning, as China’s demand for oil is hampered by its struggles with COVID-19.
Brent crude oil gave up US$2.02 at US$85.60 per barrel. West Texas Intermediate (WTI) lost US$1.87 at US$78.21/barrel. Western Canadian Select (WCS) shed 87 cents at US$52.35/barrel.
Shortly after the open the TSX/S&P Composite Index eased back 49.81 points at 19,931.10.
Gold was down US$8.90 at US$1,745.50 per ounce.
