Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Jan. 16 (MarketsFarm) – The Canadian dollar on the rise Monday morning, despite increases in the United States dollar and declines in crude oil prices.
As of 8:40 am CST, the loonie was at US$0.7464 or C$1.3397, compared to Friday’s close of US$0.7459 or C$1.3406.
On the U.S. Dollar Index, the greenback bumped up 0.119 of a point at 102.065.
Statistics Canada reported that manufacturing sales were flat in November at C$72.3 billion.
Benchmark crude oil prices were slightly lower on Monday morning, to see how the reopening of China’s economy pans out.
Brent crude oil stepped back 89 cents at US$84.39 per barrel. West Texas Intermediate (WTI) was down 82 cents at US$79.04/barrel. Meanwhile, Western Canadian Select (WCS) jumped US$3.54 at US$56.87/barrel.
Shortly after Monday’s open the TSX/S&P Composite Index was relatively flat with a dip of 6.21 points at 20,353.89.
Gold was down US$5.10 at US$1,916.80 per ounce.
The U.S. markets are closed today to mark Martin Luther King Day.
