Canadian Dollar and Business Outlook: Loonie stays put, oil jumps

WINNIPEG, April 14 (MarketsFarm) – The Canadian dollar stayed steady on Wednesday morning despite a jump in benchmark oil prices.

As of 9:23 a.m. CDT, the loonie was at US$0.7964 or US$1=C$1.2557, compared to US$0.7966 or US$1=C$1.2554 when markets closed on Tuesday.

Benchmark oil prices were higher on Wednesday. Brent crude oil rose by US$1.33 per barrel to US$65.00. West Texas Intermediate (WTI) gained US$1.31 to US$61.49/barrel. Western Canadian Select (WCS) strengthened by US$1.08 at US$50.71/barrel.

The TSX/S&P Composite Index moved upward on Wednesday morning by 103.90 points to 19,307.60.

As the stock market rose, gold plunged by US$11.11 to US$1,734.40 per ounce.

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