By MarketsFarm
WINNIPEG, April 19 (MarketsFarm) – The Canadian dollar was stepping back on Wednesday morning, as the United States dollar regained some lost ground and crude oil prices were lower.
As of 8:35 am CDT, the loonie was at US$0.7450 or C$1.3428, compared to Tuesday’s close of US$0.7470 or US$1=C$1.3387. On the U.S. Dollar Index, the greenback bumped up 0.187 of a point at 101.635.
Benchmark crude oil prices were lower on Wednesday morning, as demand wanes over concerns of a recession.
Brent crude oil gave up US$1.41 at US$83.36 per barrel and West Texas Intermediate (WTI) lost US$1.35 at US$79.51.
Shortly after Wednesday’s open the TSX/S&P Composite Index was down 69.96 points at 20,614.72.
Gold dropped US$25.20 at US$1,994.50 per ounce.
