By Glen Hallick
Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Monday as its United States counterpart dropped.
As of 8:37 am CST, the loonie was at US$0.6975 or US$1=C$1.4333 compared to Friday’s close of US$0.6924 or US$1=C$1.4418.
On the U.S. Dollar Index, the greenback gave up 0.643 of a point at 108.160.
Also adding to the Canadian dollar’s turnaround was speculation that Prime Minister Justin Trudeau could resign this week, perhaps as early as today.
Benchmark crude oil prices were higher on Monday morning as colder weather is spurring demand.
Brent crude oil added 43 cents at US$76.94 per barrel and West Texas Intermediate also rose 43 cents at US$74.39.
Shortly after Monday’s opening, the TSX/S&P Composite Index added 67.38 points at 25,140.92.
Gold lost US$19.70 at US$2,635.00 per ounce.
