WINNIPEG– The Canadian dollar is starting the week on the positive side.
As of 8:53 a.m. CDT, the loonie was at US$0.7745 or US$1=C$1.2912 on Monday, compared to US$0.7732 or US$1=C$1.2933 on Friday. The United States Dollar Index was down 0.24 of a point at 103.94. The International Monetary Fund (IMF) downgraded the economic growth outlook for the U.S. in 2022 on Friday to 2.9 per cent, compared to 5.7 per cent in 2021.
Crude oil prices were on the decline on Monday as they are on track for their first monthly losses since last November. Brent crude oil lost US$0.61 per barrel to US$112.51. West Texas Intermediate (WTI) was down US$0.86 at US$106.76/barrel. Western Canadian Select (WCS) eased off US$0.71 to US$89.27/barrel.
The TSX/S&P Composite Index increased 54.86 points to 19,117.77.
Gold is up US$0.30 per ounce to US$1,830.60.
