WINNIPEG – The Canadian dollar was moving upwards on Monday morning despite an easing of crude oil prices.
The loonie was at US$0.7341 or US$1=C$1.3622, higher than Friday’s close of US$0.7320 or US$1=C$1.3661. The United States Dollar Index was down 0.18 of a point at 106.47.
Crude oil prices were lower as the world braces for an Israeli ground offensive on the Gaza Strip. Brent crude oil declined US$0.50 at US$90.39 per barrel. West Texas Intermediate (WTI) was down US$0.46 at US$87.23/barrel. Tourmaline Oil Corp. announced on Monday it will buy Bonavista Energy Corp. in a C$1.45 billion deal.
The TSX/S&P Composite Index gained 72.41 points at 19,535.27.
Gold dropped US$10.50 at US$1,931.00 per ounce.
