Glacier FarmMedia – The Canadian dollar continued to rise, seeing its highest close since Sept. 23.
The loonie jumped to US$0.7227 or US$1=C$1.3837 on Monday, compared to US$0.7215 or US$1=C$1.3860 on Friday. The Bank of Canada will make its final interest rate announcement of 2025 on Wednesday.
The United States Dollar Index was up 0.10 of a point at 99.10. The Federal Reserve will also make its final interest rate announcement of the year on Wednesday.
Crude oil prices were down due to supply concerns as peace talks between Russia and Ukraine and the Fed’s next interest rate announcement were top of mind. West Texas Intermediate gave up US$1.22 per barrel at US$58.86. Brent crude oil lost US$1.28/barrel at US$62.47.
The TSX/S&P Composite Index lost 141.44 points to close at 31,169.97.
Gold retreated US$21.60 per ounce at US$4,211.40.
