WINNIPEG – The Canadian dollar regained positive momentum on Wednesday after suffering a big drop on Tuesday.
The loonie was at US$0.7384 or US$1=C$1.3543, up from US$0.7322 or US$1=C$1.3658 at Tuesday’s close. The United States Dollar Index declined 0.47 of a point at 104.05.
Crude oil continued its slide on Wednesday due to the rising number of COVID-19 infections in China, milder weather in the U.S. and reduced refinery capacity. Brent crude oil fell US$2.52 to US$79.58/barrel. West Texas Intermediate (WTI) dropped US$2.36 at US$74.57/barrel. Western Canadian Select (WCS) lost US$2.16 to US$48.57/barrel.
The TSX/S&P Composite Index gained 73.46 points to 19,517.23.
Gold rose US$17.80 per ounce to US$1,863.90.