WINNIPEG – The Canadian dollar moved slightly upward on Wednesday morning.
As of 8:38 a.m. CDT, the loonie was at US$0.8143 or US$1=C$1.2280 compared to US$0.8120 or US$1=C$1.2315 when markets closed on Tuesday.
Benchmark oil prices maintained their climb as U.S. stockpiles fall and demand starts to increase in Europe. Brent crude moved up by US$0.62 per barrel to US$69.50. West Texas Intermediate (WTI) increased by US$0.59 to US$66.28/barrel. Western Canadian Select (WCS) jumped by US$0.79 at US$53.40/barrel.
The TSX/S&P Composite Index increased by 41.55 points to 19,229.58. The ADP National Employment Report announced earlier today there were 742,000 jobs in the U.S. added to private payrolls in April.
Gold stayed mostly steady, gaining only US$1.79 per ounce to US$1,780.86.
