Loonie and Crude Oil Prices Plummet Amid Trump Comments

The Canadian dollar experienced a slight decline to start the week.

On Monday, the loonie closed at US$0.7132 or US$1=C$1.4021, down from US$0.7142 or US$1=US$1.4002 on Friday.

The United States Dollar Index rose 0.20 of a point to 100.42.

Crude oil prices dropped significantly after U.S. President Donald Trump expressed openness to talks with Iranian President Masoud Pezeshkian during the UN General Assembly this week, and stated he wouldn't bomb Iran-backed Houthi rebels in Yemen.

West Texas Intermediate fell US$4.87 per barrel at US$95.43, while Brent crude oil dropped US$3.78/barrel at US$100.09.