By Commodity News Service Canada
WINNIPEG, October 28 The Canadian dollar strengthened against its US counterpart Wednesday as crude oil futures firmed.
At 8:40 a.m. CDT the Canadian dollar was at US$0.7566 or C$1.3217 which compares with Tuesday’s North American close of US$0.7538, or C$1.3266.
At 8:40 a.m. New York mercantile futures had gained US$0.41 to sit at US$43.61 a barrel.
In Canadian domestic data, natural gas utilities received 11.9 billion cubic metres of total marketable gas in August, up 4.9 per cent from the same time frame the year prior, Statistics Canada said in a report on Wednesday.
Gas utilities sold 5.3 billion cubic metres of natural gas in August, up 6.8 per cent, but revenues were down 35 per cent from 12 months earlier to C$726.7 million. Low natural gas prices put downward pressure on natural gas revenues, StatsCan said.
The TSX was stronger in early activity, up 32.43 points at 8:40 a.m. CDT to sit at 13,732.61.
