Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 1 (MarketsFarm) – The Canadian dollar was weaker on Thursday morning, as the United States dollar gained more strength and crude oil prices retreated further.
As of 8:39 am CDT, the Canadian dollar was at US$0.7591 or C$1.3171, compared to Wednesday’s close of US$0.7627 or C$1.3111.
On the U.S. Dollar Index, the greenback gained 0.620 of a point at 109.285, approaching its highest level in the last 52 weeks.
Benchmark crude oil prices were lower on Thursday morning, due to weakening demand and the spike in the U.S. dollar.
Brent crude oil lost US$2.07 at US$93.57 per barrel. West Texas Intermediate (WTI) pulled back US$1.93 at US$87.62 per barrel. Western Canadian Select (WCS) shed US$1.26 at US$67.63 per barrel.
At the opening, the TSX/S&P Composite Index gave up 151.32 points at 19,179.49.
Gold lost US$16.70 at US$1,709.50 per ounce.
