By Commodity News Service Canada
WINNIPEG, November 23 – The Canadian dollar lost ground against its US counterpart in early activity on Wednesday, following weakness in crude oil.
Crude oil futures declined with renewed ideas that OPEC (Organization of the Petroleum Exporting Countries) producers will not be able to agree on a production cap in next week’s meeting.
At 9:05 CST Wednesday, the Canadian dollar was at US$0.7412 or US$=C$1.3492, which compares with Tuesday’s North American close of US$0.7433 or US$1=C$1.3453.
The TSX was down 48.74 points at 9:05 CST Wednesday morning to sit at 15,021.64.
