By MarketsFarm
WINNIPEG, July 26 (MarketsFarm) – The Canadian dollar was pulling back on Wednesday morning, due to declines in global crude oil prices.
As of 8:37 am CDT, the loonie was at US$0.7563 or C$1.3214, compared to Tuesday’s close of US$0.7585 or US$1=C$1.3184. On the U.S. Dollar Index, the greenback slipped 0.146 of a point at 100.950.
Benchmark crude oil prices were slightly lower on Wednesday morning, due to the U.S. Federal Reserve set to announce its latest interest rate decision. Reduced production out of Saudi Arabia and Russia, plus China’s economic stimulus package had a limiting effect on further declines.
Brent crude oil shed 70 cents at US$82.94 per barrel and West Texas Intermediate gave up 76 cents at US$78.87. Western Canadian Select lost 97 cents at US63.35.
Shortly after Wednesday’s open the TSX/S&P Composite Index eased back 25.67 points at 20,525.86.
Gold added US$5.90 at US$1,969.60 per ounce.
