WINNIPEG, Feb. 3 (MarketsFarm) – The Canadian dollar moved upward Wednesday morning while oil prices steadily climb above year-long highs.
As of 8:44 a.m. CST, the Canadian dollar was at US$0.7816 or C$1.2796, compared to Tuesday’s close of US$0.7802 or C$1.2818.
Benchmark crude oil prices rose on Wednesday morning amidst speculation of increased demand in the coming months with reduced output by producing nations.
Brent crude oil increased US$0.92 to US$58.38 per barrel. West Texas Intermediate (WTI) jumped US$0.92 to US$55.68/barrel. Western Canadian Select (WCS) went up US$0.66 at US$44.16/barrel.
At the opening the TSX/S&P Composite Index gained 17.03 points at 17,891.52.
Gold was down US$2.71 at US$1,835.32 per ounce.
