Glacier FarmMedia — The Canadian dollar was firmer Monday morning, with gains in crude oil supportive for the energy-linked currency.
At 9:14 a.m. CST the Canadian dollar was trading at US$0.7165 or US$1=C$1.3957 which compares with Friday’s close of US$0.7154 or US$1=C$1.3979.
Canada’s manufacturing sector contracted in November, with the S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) falling to 48.4 from 49.6 the previous month. While that was still the second-highest reading of the past 10 months, any reading below 50 indicates contraction in the sector.
Ukrainian drone attacks over the weekend led to the Caspian Pipeline Consortium halting exports, while increasing tensions between the United States and Venezuela also underpinned energy markets. West Texas Intermediate increased 1.50 per cent at US$59.43 per barrel.
The TSX lost 113.36 points at 9:14 CST to trade at 31,269.42.
