WINNIPEG – The Canadian dollar was slowly moving its way upwards on Wednesday morning.
The loonie was at US$0.7386 or US$1=C$1.3539, up from US$0.7375 or US$1=C$1.3560 on Tuesday.
The United States Dollar Index was virtually unchanged, down by 0.01 of a point to 104.70. The U.S. Labor Department reported today that the consumer price index rose 3.7 per cent in August compared to one year ago, and up from 3.2 per cent in July. However, excluding food and energy, core prices went down from 4.7 per cent to 4.3.
Crude oil was up after the International Energy Agency (IEA) said that demand will be greater than supply by 1.2 million barrels per day on average in the second half of 2023. Brent crude oil added US$0.19 at US$92.25 per barrel. West Texas Intermediate (WTI) gained US$0.11 at US$88.95/barrel.
The TSX/S&P Composite Index advanced 24.39 points at 20,247.47.
Gold was unchanged at US$1,935.10 per ounce.
