By MarketsFarm
WINNIPEG, August 20 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning as crude oil prices dipped.
As of 8:43 CDT, the Canadian dollar was at US$0.7494 or C$1.3341. That compares to Monday’s North American close of US$0.7520 or C$1.3298.
Crude oil prices were lower Tuesday morning as the U.S./China trade war fueled fears of a pending global recession.
West Texas Intermediate crude oil was down 56 cents at US$55.65 per barrel, and Western Canadian Select crude fell US$1.52 to US$43.48 per barrel.
At the start of trading on Tuesday, the TSX/S&P Composite Index was down 39.11 points at 16,264.94 as hopes for global economic stimulus faded.
Gold was up US$9.61 at US$1,505.53 per ounce.
