Canadian Dollar and Business Outlook: Loonie adds more ground

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar bumped up on Wednesday morning as there were small declines in the United States dollar.

As of 8:35 am CDT, the loonie was at US$0.7354 or US$1=C$1.3599 compared to Tuesday’s close of US$0.7338 or US$1=C$1.3627. On the U.S. Dollar Index, the greenback shed 0.019 of a point at 101.280.

Benchmark crude oil prices were narrowly mixed on Wednesday morning as U.S. stockpiles increased and there not being a cease fire deal between Israel and Hamas.

Brent crude oil tacked on 50 cents at US$77.70 per barrel and West Texas Intermediate was down 33 cents at US$74.04.

Shortly after Wednesday’s open the TSX/S&P Composite Index added 47.63 points at 23,085.07.

Gold was down US$4.80 at US$2,545.80 per ounce.