Canadian Dollar and Business Outlook: Loonie steady, oil rises

WINNIPEG – The Canadian dollar stayed steady on Monday morning amidst news Bank of Montreal (BMO) is selling its EMEA asset management business to Ameriprise Financial for C$1.1 billion.

As of 8:39 a.m. CDT, the loonie was at US$0.7972 or US$1=C$1.2544, compared to US$0.7971 or US$1=C$1.2545 when markets closed on Friday.

Benchmark oil prices were on the upswing on Monday. Brent crude oil jumped US$1.01 per barrel to US$63.96. West Texas Intermediate (WTI) gained US$1.10 to US$60.42/barrel. Western Canadian Select (WCS) advanced by US$0.67 at US$49.78/barrel.

The TSX/S&P Composite Index fell on Monday morning, losing 47.37 points to 19,180.66.

Gold started the week by dropping $6.16 to US$1,736.98 per ounce.


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