WINNIPEG – A weakening United States dollar has helped the Canadian dollar make gains on Wednesday.
As of 8:56 a.m. CDT, the loonie was at US$0.7985 or US$1=C$1.2523, compared to US$0.7971 or US$1=C$1.2545 when markets closed on Tuesday.
Crude oil tumbled on Wednesday due to lowering demand as the Delta variant of COVID-19 spreads. Brent crude oil fell US$1.91 per barrel to US$70.50. West Texas Intermediate (WTI) lost US$2.29 to US$68.27/barrel. Western Canadian Select (WCS) retreated US$1.55 to US$54.41/barrel.
The TSX/S&P Composite Index moved up 9.94 points at 20,375.79.
Gold surged US$19.54 per ounce to US$1,829.98 after the Dow Jones freefell 195.40 points.
