Glacier FarmMedia – The Canadian dollar pulled back on Monday morning despite Middle East attacks causing a surge in crude oil prices.
The loonie was at US$0.7307 or US$1=C$1.3686 as of 8:34 a.m. CST, compared to Friday’s close at US$0.7330 or US$1=C$1.3642. The United States Dollar Index rose 0.85 of a point at 98.45.
Crude oil prices jumped after the U.S. and Israel attacked Iran over the weekend and Iran retaliated with strikes against several Middle East countries. West Texas Intermediate advanced US$5.22 at US$72.24 per barrel. Brent crude oil shot up US$6.45 at US$79.32/barrel.
The TSX/S&P Composite Index dropped 95.05 points at 34,244.94.
Gold gained US$97.30 per ounce at US$5,345.20.
