Glacier FarmMedia | MarketsFarm – The Canadian dollar was stuck in a downward momentum on Wednesday morning.
The loonie was at US$0.7225 or US$1=C$1.3841 as of 8:32 a.m. CDT, compared to Tuesday’s close at US$0.7260 or US$1=C$1.3775. The United States Dollar Index was up 0.22 of a point at 99.74.
Crude oil prices jumped after U.S. President Donald Trump authorized Chevron to maintain its operations in Venezuela, but not export any oil from the country to the U.S. Also, OPEC+ meets today to discuss a potential output hike.
Brent crude oil rose US$0.93 per barrel at US$65.02 per barrel and West Texas Intermediate was up US$0.99 at US$61.88/barrel.
The TSX/S&P Composite Index gained 56.92 points at 26,325.92.
Gold added US$6.60 per ounce at $3,307.00.
