Glacier FarmMedia — The Canadian dollar was holding steady Monday morning. Support from gains in equity and metal markets was countered by weakness in crude oil.
At 9:01 a.m. CDT the Canadian dollar was trading at US$0.7123 or US$1=C$1.4039 which compares with Friday’s close of US$0.7125 or US$1=C$1.4035.
Canada’s Industrial Product Price Index was up by 0.8 per cent in September compared to the previous month, marking a 5.5 per cent annual increase, reported Statistics Canada. The Raw Materials Price Index was up by 1.7 per cent on the month and 8.4 per cent annually.
The continued shutdown of the United States government and resulting lack of economic data remained a feature in the financial markets.
Crude oil was pressured by ongoing uncertainty over trade relations between the U.S. and China, with West Texas Intermediate down by 1.24 per cent at US$56.44 per barrel.
The TSX was up by 260.41 points at 9:01 CDT to trade at 30,368.89.
