By Commodity News Service Canada
WINNIPEG, November 21 – The Canadian dollar advanced against its US counterpart in early activity on Monday, tracking advances in crude oil futures.
New York Mercantile Exchange crude oil futures gained close to three per cent Monday morning, propped up by ideas that OPEC (Organization of the Petroleum Exporting Countries) members will be able to reach an output agreement at their meeting next week.
At 8:41 CST Monday, the Canadian dollar was at US$0.7455 or US$=C$1.1.3414, which compares with Friday’s North American close of US$0.7400 or US$1=C$1.3513.
In Canadian domestic data, wholesale sales decreased 1.2 per cent to C$56.0 billion in September, following increases in four of the previous five months, Statistics Canada said in a report on Monday.
The TSX was up 88.96 points at 8:41 CST Monday morning to sit at 14,952.99.
