By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar eased back on Wednesday morning despite a relatively steady United States dollar and upticks in crude oil.
As of 8:35 am CDT, the loonie was at US$0.7213 or US$1=C$1.3864 compared to Tuesday’s close of US$0.7219 or US$1=C$1.3852. On the U.S. Dollar Index, the greenback shed 0.089 of a point at 98.030.
Benchmark crude oil prices were higher on Wednesday morning as they continue to fluctuate on the market’s views on possible talks to resolve the Russian invasion of Ukraine. Also, the American Petroleum Institute reported U.S. crude inventories are down by 2.42 million barrels.
West Texas Intermediate added 81 cents at US$63.16 per barrel and Brent crude oil gained 72 cents at US$66.51 per barrel.
The TSX/S&P Composite Index was up 71.32 points at 27,895.20.
Gold advanced US$23.50 at US$3,383.20 per ounce.
