WINNIPEG, March 8 (MarketsFarm) – The Canadian dollar stayed steady on Monday morning following a mixed start to the markets after the United States Senate passed the US$1.9 trillion relief bill over the weekend.
As of 8:22 a.m. CST, the Canadian dollar was at US$0.7894 or US$1=C$1.2668, the same as its closing value on Friday.
Benchmark oil prices surged early on Monday but later eased after Saudi Arabia announced it had intercepted the attack on the Ras Tamura terminal and oil output would not be affected. Declines were tempered on news that a rebel Yemeni group launched a drone attack on a Saudi crude oil terminal on Sunday.
Brent crude oil had broken the US$71 per barrel mark, but later weakened to US$69.07. West Texas Intermediate (WTI) decreased US$0.29 at US$65.80. Western Canadian Select (WCS) inched downward by US$0.33 at US$54.41/barrel.
Fears of losses on the TSX/S&P Composite Index due to higher U.S. Treasury bond yields were quickly wiped out on Monday as it rose by 255.24 to 18,380.96.
Gold dropped by US$7.03 at US$1,693.61 per ounce.
