By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar slipped on Monday morning, as crude oil prices were lower.
As of 8:44 am CDT, the loonie was at US$0.7243 or US$1=C$1.3807 compared to Friday’s close of US$0.7253 or US$1=C$1.3788. On the U.S. Dollar Index, the greenback was down 0.190 of a point at 97.080.
Benchmark crude oil prices stepped back on Monday morning, as Iraq increased its exports despite global demand waning.
West Texas Intermediate gave up 63 cents at US$62.05 per barrel and Brent crude oil also lost 63 cents at US$66.05 per barrel.
Statistics Canada reported on Monday that the industrial product price index increased 0.5 per cent in August from July and rose four per cent from the previous August.
The TSX/S&P Composite Index dipped 5.47 points at 29,757.89. Gold jumped US$52.00 at US$3,757.80 per ounce.
