Glacier FarmMedia | MarketsFarm – The Canadian dollar retreated away from the 70 United States cent mark on Wednesday.
The loonie was at US$0.6985 or US$1=C$1.4316 as of 8:36 a.m. CDT, compared to Tuesday’s close at US$0.6993 or US$1=C$1.4301.
The U.S. Dollar Index was up 0.37 of a point at 103.61. The U.S. Federal Reserve is expected to announce later today it will leave interest rates unchanged.
Crude oil was relatively steady after Russia agreed to a 30-day ceasefire on Ukrainian energy infrastructure while China unveiled yet another set of economic stimulus measures. Brent crude oil increased US$0.07 at US$70.63 per barrel. West Texas Intermediate (WTI) added US$0.04 at US$66.94/barrel.
The TSX/S&P Composite Index gained 136.44 points at 24,842.51.
Gold declined US$3.10 per ounce at $3,037.70.
