WINNIPEG, Feb. 10 (MarketsFarm) – The Canadian dollar moved upward early Wednesday morning as the U.S. greenback continues to weaken.
As of 8:38 a.m. CST, the Canadian dollar was at US$0.7883 or US$1=C$1.2683, compared to Tuesday’s close of US$0.7862 or US$1=C$1.2719.
Benchmark crude oil prices rose for the eighth straight day, the first rally of such length in two years.
Brent crude oil increased US$0.24 to US$61.33 per barrel. West Texas Intermediate (WTI) inched up by US$0.04 to US$58.40/barrel. Western Canadian Select (WCS) was lifted by US$0.32 at US$47.82/barrel.
The TSX/S&P Composite Index rallied for the seventh straight day for the first time in more than a year, rising by 78.36 to 18,408.62.
Gold climbed by US$9.00 at US$1,847.32 per ounce.
