By Commodity News Service Canada
WINNIPEG, June 1 – The Canadian dollar was weaker Monday morning relative to its US counterpart as crude oil prices fell.
At 9:50 a.m. CDT Monday the Canadian dollar was at C$1.536, or US$0.797.
The Bank of Canada’s official close on Friday was at C$1.2436, or US$0.8041.
Crude oil was down amid concerns over a global oversupply, as OPEC members are generally expected to maintain their current production policy when they meet later this week.
There was no significant data released by Statistics Canada Monday morning, but information on Canada’s international merchandise trade is expected to be released Wednesday.
The TSX went down 16.88 points at 9:50 Monday morning, and now sits at 14,997.21.
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