Glacier FarmMedia — The Canadian dollar was weaker on Monday, hitting its weakest level in six days relative to its United States counterpart.
The Canadian dollar settled at US$0.7254 or US$1=C$1.3785, which compares with Friday’s close of US$0.7272 or US$1=C$1.3751.
Monthly U.S. inflation data will be released Tuesday, with positioning ahead of the report accounting for broad strength in the U.S. dollar index.
Reports that U.S. President Donald Trump had signed an executive order delaying tariffs on Chinese imports for another 90 days also underpinned the U.S. dollar at the expense of other world currencies. Increased U.S. duties had been set to come into effect at midnight tonight.
Crude oil was firm, with West Texas crude oil up by 0.22 per cent at US$64.02 per barrel.
The TSX Composite Index was up 16.55 points at 27,775.23 points.
