By MarketsFarm
WINNIPEG, Oct. 23 (MarketsFarm) The Canadian dollar was steady on Wednesday morning, holding on to gains made earlier in the week.
At 8:45 CDT, the Canadian dollar was at US$0.7639 or C$1.3091, which compares with Tuesday’s North American close of US$0.7637 or C$1.3094.
Statistics Canada reported that wholesale sales fell by 1.2 per cent in August, though economists had expected modest growth totaling 0.3 per cent that month. This report further stokes concerns of an upcoming recession. Wholesale sales, including machinery equipment and household goods, totaled C$64.3 billion dollars on the month.
Oil prices were slightly weaker on Wednesday morning, due to higher-than-expected U.S. crude oil stocks. Brent Crude was down 51 cents at US$59.19 per barrel, and West Texas Intermediate (WTI) was down 50 cents at US$53.98 per barrel.
The TSX lost ground at 8:45 CDT, down 12.16 points at 16,378.28. The S&P 500 Index was down 0.55 points to hit 2,995.54. The Dow Jones gained 32.40 points at 26,819.61. The NASDAQ decreased, down 19.66 to hit 8,086.84.
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