By MarketsFarm
WINNIPEG, Feb. 7 (MarketsFarm) – The Canadian dollar eased back on Tuesday morning as its United States counterpart lurched forward while small gains in crude oil tempered further declines.
As of 8:35 am CST, the loonie was at US$0.7433 or C$1.3453, compared to Monday’s close of US$0.7439 or US$1=C$1.3442. On the U.S. Dollar Index, the greenback tacked on 0.142 of a point at 103.640.
Benchmark crude oil prices were higher on Tuesday morning, as Saudi Arabia indicated global demand is to rise in 2023 due a resurgent Chinese economy.
Brent crude oil rose 77 cents at US$81.76 per barrel. West Texas Intermediate (WTI) gained 93 cents at US$75.04. Western Canadian Select (WCS) bumped up 41 cents at US$54.16.
Shortly after Tuesday’s open the TSX/S&P Composite Index dipped 12.430 points at 20,616.49.
Gold was up US$2.10 at US$1,881.60 per ounce.
