By Commodity News Service Canada
WINNIPEG, March 7 The Canadian dollar weakened against its US counterpart on Monday, despite gains in crude oil futures.
The US dollar was supported by bullish interest rate differentials, which in turn pressured the Canadian dollar.
At 8:55 a.m. CST the Canadian dollar was at US$0.7494 or C$1.3344 which compares with Friday’s North American close of US$0.7505, or C$1.3324.
At 8:55 a.m. New York mercantile crude oil futures had gained US$0.44 per barrel to sit at US$36.36.
There was no significant economic data released by Statistics Canada on Monday.
The TSX was stronger in early activity, up 119.4 points at 8:55 a.m. CST to sit at 13,331.85.
