By MarketsFarm
WINNIPEG, Aug. 2 (MarketsFarm) – The Canadian dollar remained on its slide Wednesday morning, getting pressure from modest gains in the United States dollar but losses were tempered by slight increases in crude oil.
As of 8:34 am CDT, the loonie was at US$0.7505 or C$1.3327, compared to Tuesday’s close of US$0.7524 or US$1=C$1.3291. On the U.S. Dollar Index, the greenback added 0.130 of a point at 102.215.
Benchmark crude oil prices were relatively steady on Wednesday morning, after the American Petroleum Institute reported a 15.4-million-barrel draw on U.S. crude inventories.
Brent crude oil added four cents at US$84.95 per barrel, West Texas Intermediate also gained four cents at US$81.41, and Western Canadian Select tacked on 10 cents US$67.11.
Shortly after Wednesday’s open the TSX/S&P Composite Index lost 182.38 points at 20,350.55.
Gold was up US$2.90 at US$1,981.70 per ounce.
