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The dollar moved higher against the Canadian dollar and Norwegian krone as West Texas Intermediate crude futures gave up early Monday gains.
The dollar USDCAD, -0.11% rose to 1.165 Canadian dollars, its highest level since last Wednesday. The buck traded around 1.16 loonies Friday. The move came as West Texas Intermediate crude CLG5, +1.30% futures for February delivery lost 1.7% to $56.12.
The dollar USDNOK, -0.05% rose to 7.42 krone, its highest level since last Wednesday. It traded at 7.35 on Friday.
The dollar USDJPY, +0.07% rose to 120 yen, its highest level in more than two weeks, benefiting from the Federal Reserve’s signal that it will raise interest rates in 2015. It traded at ¥119.52 Friday.
After trading higher against the dollar for most of the North American trading day, the euro traded flat at $1.222 EURUSD, -0.01%
The ICE U.S. Dollar Index DXY, -0.08% , a measure of the greenback’s strength against a trade-weighted basket of six currencies, was up 0.17% to 89.7490.
January platinum PLF5, +0.31% fell $14.90, or 1.2%, to $1.182.10 an ounce, while March palladium PAH5, -0.23% gained $10.15, or 1.3%, to $815.25 an ounce. High-grade copper for March delivery HGH5, +0.09% slipped 1.2 cent to $2.8748 a pound.
Nymex reformulated gasoline blendstock for January RBF5, +0.11% — the benchmark gasoline contract — fell 2 cents to $1.540 a gallon.
Heating oil for January HOF5, +0.19% also fell 1 cent to $1.95 a gallon, while natural gas for the same month NGF15, +0.64% dropped 30 cents to $3.16 per million British thermal unit.
Oil prices slumped again on Monday, as comments about maintaining production from several OPEC ministers sparked a renewed selloff.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +1.28% gave up earlier gains and settled $1.75, or 3%, lower at $55.38 a barrel. February Brent crude on London’s ICE Futures exchange LCOG5, +0.72% reversed earlier gains and was trading slightly above $60 a barrel.
Gold futures were unable to hold on to cautious gains, dropping well below $1,200 an ounce Monday.
Gold for February delivery GCG5, +0.05% fell $16.20, or 1.4%, to $1,179.8 an ounce. Silver for March SIH5, +0.33% fell 34.2 cents, or 2.1%, to $15.688 an ounce.
