Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 22 (MarketsFarm) – The Canadian dollar was still losing ground on Wednesday morning as the United States dollar resumed its upward trajectory. Gains in crude oil prices tempered further decreases.
As of 8:37 am CDT, the Canadian dollar was at US$0.7418 or C$1.3482, compared to Wednesday’s close of US$0.7464 or C$1.3397.
On the U.S. Dollar Index, the greenback gained 0.374 of a point at 110.720.
Benchmark crude oil prices were higher Thursday morning, as demand remained firm ahead of a likely global recession.
Brent crude oil increased US$2.45 at US$92.28 per barrel. West Texas Intermediate (WTI) advanced US$2.60 at US$85.54/barrel. Western Canadian Select (WCS) added 93 cents at US$63.34/barrel.
Shortly after the opening, the TSX/S&P Composite Index was up 87.41 points at 19,271.95.
Gold gained US$11.40 at US$1,687.10 per ounce.
