Canadian dollar and business outlook

Glacier FarmMedia — The Canadian dollar was weaker Monday morning, as losses in crude oil weighed on the energy-linked currency.

• At 8:58 a.m. CST the Canadian dollar was trading at US$0.7314 or US$1=C$1.3672 which compares with Friday’s close of US$0.7374 or US$1=C$1.3562.
• Investors were taking some of the risk premium out of oil as tensions between the United States and Iran eased over the weekend.
• West Texas Intermediate was down 4.19 per cent at US$62.48 per barrel.
• Gold and other commodities were also weaker, seeing a continuation of Friday’s selloff as traders continued to adjust positions amid ideas the recent climb to record-highs in gold was overdone.
• The TSX was up 98.87 points at 8:58 CST to trade at 32,022.39.

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