By MarketsFarm
WINNIPEG, Sept. 27 (MarketsFarm) – The Canadian dollar was relatively steady on Wednesday morning, as additional strength in the United States dollar was virtually balanced off by higher crude oil prices.
As of 8:40 am CDT, the loonie was at US$0.7398 or C$1.3520, compared to Tuesday’s close of US$0.7402 or US$1=C$1.3509. On the U.S. Dollar Index, the greenback was up 0.250 of a point at 106.185.
Benchmark crude oil prices climbed upward on Wednesday morning, as global supplies tightened along with a more positive outlook in the equity markets.
Brent crude oil gained US$1.70 at US$95.66 per barrel, and West Texas Intermediate advanced US$2.05at US$92.44, while Western Canadian Select rose US$1.90 US$74.58.
Shortly after Wednesday’s open the TSX/S&P Composite Index was relatively flat, bumping up 6.02 points at 19,5628.17.
Gold lost US$12.50 at US$1,907.30 per ounce.
