Complied by MarketsFarm
WINNIPEG, April 17 (MarketsFarm) – The Canadian dollar was lower on Monday morning, as the United States dollar was on the rise.
As of 8:35 am CDT, the loonie was at US$0.7467 or C$1.3392, compared to Friday’s close of US$0.7484 or US$1=C$1.3362. On the U.S. Dollar Index, the greenback added 0.385 of a point at 101.630.
Benchmark crude oil prices were slightly lower on Monday morning due to the stronger U.S. dollar.
Brent crude oil was down 47 cents at US$85.84 per barrel and West Texas Intermediate (WTI) gave up 49 cents at US$82.03.
Statistics Canada reported that wholesale sales dropped 1.7 per cent from January to February at C$85.6 billion. The declines were led by weaker motor vehicle sales, as well those for vehicle parts and accessories. However, when compared to last February, wholesale sales rose 7.4 per cent.
Shortly after Monday’s open the TSX/S&P Composite Index nudged up 15.44 points at 20,595.35.
Gold stepped back US$2.50 at US$2,013.30 per ounce.
