By MarketsFarm
WINNIPEG, May 15 (MarketsFarm) – The Canadian dollar was firmer Monday morning, finding some support from gains in crude oil.
At 8:48 a.m. CDT Monday morning the Canadian dollar was at US$0.7395 or US$1=C$1.3523, which compares with Friday’s close of US$0.7389 or US$1=C$1.3534.
Canadian wholesale sales excluding petroleum were down by 0.1 per cent to C$85.6 billion in March, according to a report from Statistics Canada, with declines in four of seven subsectors.
Crude oil was underpinned by tightening supply expectations to start the week, as OPEC+ cuts production. However, increasing flows of oil out of Russia and uncertainty over Chinese demand tempered the advances. West Texas Intermediate was up by 0.8 per cent at US$70.62 per barrel.
The TSX was stronger, up by 17.83 points at 8:48 CDT, trading at 20,440.94 points.
