By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly weaker Monday morning, as investors adjusted positions ahead of key economic data out later in the week.
At 8:47 a.m. CST the Canadian dollar was trading at US$0.7423 or US$1=C$1.3472, which compares with Friday’s close of US$0.7435 or US$1=C$1.3449.
Canadian gross domestic product data will be released on Wednesday, with the United States Federal Reserve also releasing its latest monetary policy decision that day.
Concerns over the state of the Chinese economy put some pressure on crude oil on Monday, countering support from the ongoing geopolitical tensions in the Middle East. West Texas Intermediate crude oil was down by 1.15 per cent at US$77.11 per barrel.
The TSX was weaker in early trade, losing 110.17 points at 8:47 CST, trading at 21,015.11 points.
