Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 3 (MarketsFarm) – The Canadian dollar swung higher on Friday morning on support from increases in global crude oil prices while the United States held firm.
As of 8:34 am CST, the Canadian dollar was at US$0.7840 or C$1.2762, compared to Thursday’s close of US$0.7803 or C$1.2815.
On the U.S. Dollar Index, the greenback was slightly higher with a gain of 0.107 of a point at 96.205.
Benchmark crude oil prices were stronger on Friday morning, benefitting from the new OPEC+ policy to be more flexible on production levels.
West Texas Intermediate (WTI) gained US$2.44 at US$68.94 per barrel. Brent crude oil jumped US$2.65 at US$73.32 per barrel. Western Canadian Select (WCS) increased US$1.50 at US$50.30 per barrel.
The TSX/S&P Composite Index started the day with a small increase of 32.87 points to open at 20,794.99.
Gold was up US$8.40 at US$1,771.10 per ounce.
