Canadian Dollar and Business Outlook: Loonie resumes upward climb
Greenback loses ground
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was higher on Wednesday morning, as trading reopened following Christmas and Boxing Day.
As of 8:34 am CST, the loonie was at US$0.7584 or C$1.3187, compared to Friday’s close of US$0.7543 or US$1=C$1.3258.
On the U.S. Dollar Index, the greenback gave up 0.214 of a point at 100.890.
Benchmark crude oil prices eased back Wednesday morning, as record levels of production in the U.S. outweighed output cuts by OPEC+.
Brent crude oil lost 27 cents at US$80.80 per barrel, while West Texas Intermediate slipped 33 cents at US$75.24.
Shortly after Wednesday’s open the TSX/S&P Composite Index added 81.97 points at 20,963.16.
Gold was up US$10.30 at US2,080.10 per ounce.
