Glacier FarmMedia | MarketsFarm – The Canadian dollar was on the rise coming out of the weekend.
The loonie was at US$0.6973 or US$1=C$1.4341 as of 8:32 a.m. CDT, compared to Friday’s close at US$0.6950 or US$1=C$1.4388.
The United States Dollar Index was down 0.21 of a point at 103.50. February retail sales in the U.S. were up 0.2 per cent compared to the average pre-report estimate of 0.6 per cent. January sales were revised downwards to a decline of 1.2 per cent. The U.S. Federal Reserve is expected to leave interest rates unchanged when it meets tomorrow.
Crude oil was higher not only after the U.S. attacked Houthi rebels in Yemen but also due to growing demand in China. Brent crude oil increased US$0.68 at US$71.26 per barrel. West Texas Intermediate (WTI) added US$0.66 at US$67.84/barrel.
The TSX/S&P Composite Index grew 182.66 points at 24,736.06.
Gold declined US$3.90 per ounce at US$2,997.20.
