By Commodity News Service Canada.
Winnipeg, August 24 – The Canadian dollar was slightly lower
against its US counterpart at midday Monday, as losses in gold and
oil weighed down the loonie.
The Canadian dollar was at US$0.7571 or US$1 = C$1.3208 at 11:50
CDT Monday morning. Commodities around the world fell in sympathy
with the collapse of the Chinese main index. Chinese equities plunged
to their lowest point since 2007.
Crude oil fell to a six and a half year low as the drop in Chinese
equities prompted more talk of lower oil consumption. Brent crude
appeared headed to a fourth consecutive monthly loss.
Canadian government five-year bonds hit a yield of 0.55 percent,
a record low.
On the commodity markets the September crude contract in New
York fell US$1.10 to US$39.35 a barrel. The September gold contract
fell US$5.30 to US$1,153.30 an ounce.
At 11:50 CDT Monday morning, the Toronto Stock Exchange was down
118.57 points to 13,355.10.
