By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar gave up almost two-tenths of a cent on Monday, in light of support from a lower United States dollar and sharp upticks in crude oil.
The loonie closed at US$0.7263 or US$1=C$1.3768 compared to Friday’s close of US$0.7280 or US$1=C$1.3737.
On the United States Dollar Index, the greenback slipped 0.133 of a point at 98.025.
Benchmark crude oil prices were stronger on Monday, as the market reacted to the U.S. action in Venezuela over the weekend, with concerns about supply issues.
West Texas Intermediate climbed US$1.07 at US$58.39 per barrel, while Brent crude gained US$1.12 at US$61.87.
The TSX Composite Index advanced 336.58 points on Monday to a record close of 32,219.85. That’s despite the TSX energy subindex falling by more than three per cent.
Gold jumped by US$128.30 at US$4,457.90 per ounce.
