By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar fell back on Wednesday morning, as its United States counterpart was stronger, while declines in crude oil limited the losses.
As of 8:36 am CDT, the loonie was at US$0.7202 or US$1=C$1.3884 compared to Tuesday’s close of US$0.7230 or US$1=C$1.3832. On the U.S. Dollar Index, the greenback advanced 0.617 of a point at 97.510.
Benchmark crude oil prices were higher Wednesday morning, due to supply issues out of Kurdistan, Russia and Venezuela along with a drop in U.S. inventories.
West Texas Intermediate gained 96 cents at US$64.37 per barrel and Brent crude oil also added 98 cents at US$68.59 per barrel.
The TSX/S&P Composite Index rose 152.52 points at 29,968.15.
Gold gave up US$11.90 at US$3,803.80 per ounce.
