By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was a pinch higher on Monday morning, propped up by small increases in crude oil prices.
As of 8:34 am CDT, the loonie was at US$0.7322 or US$1=C$1.3657 compared to Friday’s close of US$0.7314 or C$1.3672. On the United States Dollar Index, the greenback nudged up 0.047 of a point at 104.595.
Benchmark crude oil prices were slightly higher on Monday morning, as Saudi Arabia raised its oil prices and as the world awaits Israel’s military assault on Rafah. Meanwhile, large U.S. inventories weighed on values.
Brent crude oil gained 48 cents at US$83.44 per barrel and West Texas Intermediate added 49 cents at US$78.60.
Shortly after Monday’s open the TSX/S&P Composite Index gained 168.96 points at 21,116.37.
Gold advanced US$25.40 at US$2,334.00 per ounce.
