Glacier FarmMedia | MarketsFarm – The Canadian dollar moved above the 73 United States cent mark on Monday morning.
The loonie was at US$0.7303 or US$1=C$1.3693 as of 9:40 a.m. CDT, compared to Friday’s close at US$0.7289 or US$1=C$1.3720.
Canadian Prime Minister Mark Carney and Canada’s premiers will meet for a three-day summit in Muskoka, Ont. starting on Monday. Interprovincial trade as well as progress towards a new trade deal with the U.S. by Aug. 1 will be on the agenda.
Trade uncertainty caused the United States Dollar Index dropped 0.39 of a point at 98.09.
Crude oil prices were down due to a lack of effects from proposed U.S. sanctions against Russian oil. Brent crude oil declined US$0.61 per barrel at US$68.67/barrel. West Texas Intermediate was down US$0.60 at US$66.74/barrel.
The TSX/S&P Composite Index gained 84.72 points at 27,398.73.
Gold jumped US$56.40 per ounce at $3,414.70.
