By MarketsFarm
WINNIPEG, Sept. 26 (MarketsFarm) – The Canadian dollar was weaker Monday morning, seeing a continuation of last week’s sharp drop relative to its United States counterpart.
At 9:08 a.m. CDT Monday morning the Canadian dollar was at US$0.7340 or US$1=C$1.3624, which compares with Friday’s close of US$0.7369 or US$1=C$1.3570.
Preliminary trade data for August showed that Canadian wholesale sales were up by 0.8 per cent during the month, although of the total farm products were down by 9.5 per cent. The official report will be released Oct. 14.
Continued softness in crude oil, which saw West Texas Intermediate trade below US$80 per barrel on Monday, contributed to the declines in the energy-linked Canadian currency.
The TSX was up by 6.40 points at 9:08 CDT, trading at 18,487.38 points.
