By MarketsFarm
WINNIPEG, July 17 (MarketsFarm) – The Canadian dollar was slightly softer Monday morning, seeing some consolidation to start the week after correcting off nearby highs on Friday.
At 8:50 a.m. CDT Monday morning the Canadian dollar was at US$0.7578 or US$1=C$1.3196, which compares with Friday’s close of US$0.7586 or US$1=C$1.3183.
Foreign investment in Canadian securities came in at C$11.2 billion in May, down slightly from C$12.8 billion the previous month, according to a report from Statistics Canada. Meanwhile, Canadians reduced their holdings of foreign securities by C$2.8 billion, resulting in a net inflow of C$13.9 billion into the Canadian economy in May.
Wholesale sales (excluding petroleum, petroleum products, other hydrocarbons, along with oilseeds and grain) increased by 3.5 per cent to hit C$83.6 billion in May, said StatCan. That marked the largest monthly gain since November 2021.
Crude oil was softer, with West Texas Intermediate down by 1.14 per cent at US$74.56 per barrel.
The TSX was weaker, losing 42.75 points at 8:50 CDT, trading at 20,219.32 points.
