By MarketsFarm
WINNIPEG, Nov. 6 (MarketsFarm) The Canadian dollar was slightly lower on Wednesday morning, after falling nearly half a cent over the past week.
At 9:20 CDT, the Canadian dollar was at US$0.7587 or C$1.3180, which compares with Tuesday’s North American close of US$0.7603 or C$1.3153.
China has reportedly resumed purchasing Canadian pork and beef for export. China ceased importing pork and beef in June, citing contamination issues, though those claims were debunked. The ban on Canadian pork and beef cost Canadian farmers approximately C$100 million to date. The ban was lifted as African Swine Fever decreased China’s hog population by nearly 40 per cent.
Oil prices were slightly stronger, despite reports of increased crude inventories in the United States. Brent Crude was up 22 cents at US$63.18 per barrel, and West Texas Intermediate (WTI) was up 50 cents at US$57.73 per barrel.
The TSX was stronger at 9:30 CDT, up by 57.64 at 16,739.56. The S&P 500 Index was up 1.30 points to hit 3,076.12. The Dow Jones gained 7.77 points at 27,501.83. The NASDAQ decreased slightly, down 21.86 to hit 8,412.78.
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