By MarketsFarm
WINNIPEG – The Canadian dollar was slightly softer Wednesday morning despite gains in crude oil.
At 8:48 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7319 or US$1=C$1.3663, which compares with Tuesday’s close of US$0.7328 or US$1=C$1.3647.
MNP Ltd.’s consumer debt index, which tracks Canadians’ sentiments over their finances, showed that 20 per cent of the population rated their debt situation as much worse compared to a year ago – up two points from the last quarter. Meanwhile, 25 per cent said their situation had deteriorated compared to five years ago, marking a three-point rise.
Scotiabank announced that it would be cutting three per cent of its global workforce in an effort to streamline operations.
Crude oil was rising amid mounting concerns over the situation in the Middle East and the possibility of supply disruptions from the region.
West Texas Intermediate was up by 1.34 per cent at US$87.82 per barrel.
The TSX was weaker, down by 110.63 points at 8:48 CDT, trading at 19,577.16 points.
