By MarketsFarm
WINNIPEG, Aug. 14 (MarketsFarm) – The Canadian dollar pulled back on Monday morning, giving way to a stronger United States dollar and weakness in crude oil prices.
As of 8:33 am CDT, the loonie was at US$0.7424 or C$1.3469, compared to Friday’s close of US$0.7439 or US$1=C$1.3443. On the U.S. Dollar Index, the greenback advanced 0.496 of a point at 103.190.
Benchmark crude oil prices declined on Monday morning, due to that strength in the U.S. dollar and as China’s economy continued to stumble.
Brent crude oil was down 53 cents at US$86.28 per barrel, West Texas Intermediate gave up 58 cents at US$82.61, and Western Canadian Select lost US$1.23 US$66.38.
Shortly after Monday’s open the TSX/S&P Composite Index gave up 101.11 points at 20,306.46.
Gold dropped US$6.90 at US$1,939.70 per ounce.
