Glacier FarmMedia – The Canadian dollar was on the rise coming out of the weekend, as its United States counterpart was relatively steady and crude oil peeled back.
The loonie was at US$0.7239 or US$1=C$1.3814 as of 8:39 a.m. CST on Monday, compared to Friday’s close at US$0.7215 or US$1=C$1.3860.
The U.S. Dollar Index was down 0.05 of a point at 98.94. The Federal Reserve will make its final interest rate decision of the year on Wednesday.
Crude oil prices were lower after hitting a two-week high on Friday, as the market continued to monitor talks to end the Russia-Ukraine war and the Fed’s next interest rate move. West Texas Intermediate lost US$0.87 at US$59.21 per barrel. Brent crude oil dropped US$0.85 at US$62.90/barrel.
The TSX/S&P Composite Index was down 10.32 points at 31,301.09.
Gold declined US$7.00 per ounce at US$4,236.00.
