By MarketsFarm
WINNIPEG, Aug. 30 (MarketsFarm) – The Canadian dollar recovered some lost ground on Wednesday morning, due to a weaker United states dollar and small upticks in crude oil.
As of 8:47 am CDT, the loonie was at US$0.7391 or C$1.3531, compared to Tuesday’s close of US$0.7357 or US$1=C$1.3593. On the U.S. Dollar Index, the greenback retreated 0.466 of a point at 103.005.
Benchmark crude oil prices were slightly higher on Wednesday morning, ahead of the weekly report from the American Petroleum Institute.
Brent crude oil was up 49 cents at US$85.98 per barrel, West Texas Intermediate added 58 cents at US$81.74, and Western Canadian Select tacked on cents at US$62.28.
Shortly after Wednesday’s open the TSX/S&P Composite Index was up 59.50 points at 20,349.91.
Gold gained US$8.60 at US$1,973.70 per ounce.
