Canadian Dollar and Business Outlook: Loonie pushes higher
Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 28 (MarketsFarm) – The Canadian dollar was higher on Wednesday morning, as trading in the Canadian markets resumed after the holidays.
As of 8:31 am CST, the loonie was at US$0.7404 or C$1.3510, compared to Friday’s close of US$0.7351 or C$1.3603.
On the U.S. Dollar Index, the greenback lost 0.128 of a point at 103.770.
Benchmark crude oil prices were a pinch lower on Wednesday morning, as China’s reopening of its economy from COVID-19 lockdown measures and the G7/European Union ban on Russian oil imports almost balanced off each other.
Brent crude oil was down 44 cents at US$83.89 per barrel. West Texas Intermediate (WTI) dipped 26 cents at US$79.27/barrel. Western Canadian Select (WCS) shed 23 cents at US$51.94/barrel.
Shortly after Wednesday’s open the TSX/S&P Composite Index slipped 38.10 points at 19,468.55.
Gold dropped US$9.10 at US$1,814.00 per ounce.
