By Commodity News Service Canada
WINNIPEG, February 1 – The Canadian dollar weakened against its
US counterpart on Monday, pressured by plummeting crude oil futures.
At 8:45 a.m. CST the Canadian dollar was at US$0.7128 or C$1.4029
which compares with Friday’s North American close of US$0.7140, or
C$1.4006.
New York Mercantile crude oil futures had lost US$1.11 a barrel
to sit at US$32.51 at 8:45 a.m. on Monday.
In Canadian domestic data, natural gas transport and
distribution companies reported total operating revenues of C$17.5
billion in 2014, up 9.4 per cent from 2013, while total operating
expenses rose 12.8 per cent to C$14.2 billion.
According to StatsCan, as a result net revenue from operations
decreased 3.3 per cent to C$3.3 billion. As well, net income after
taxes declined 59.9 per cent to C$978.9 million, mainly because of
income deductions, Statistics Canada said in a report on Monday.
The TSX was weaker in early activity, down 187.4 points at 8:45
a.m. CST to sit at 12,634.74.
