Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 18 (MarketsFarm) – The Canadian dollar was slightly higher on Friday morning, as crude was shifting upward and despite a stronger United States dollar.
As of 8:37 am CDT, the Canadian dollar was at US$0.7919 or C$1.2628, compared to Thursday’s close of US$0.7905 or C$1.2651.
On the U.S. Dollar Index, the greenback turned around from yesterday’s decline to gain 0.625 of a point at 98.600.
Benchmark crude oil prices were slightly higher on Friday morning, but are expected to climb upwards after negotiations between Russia and Ukraine faltered. One analyst stated global oil was now in its biggest upheaval since the oil crisis of 1973.
West Texas Intermediate (WTI) rose 92 cents at US$103.90 per barrel. Brent crude oil was up 24 cents at US$106.88 per barrel. Meanwhile, Western Canadian Select (WCS) lost 67 cents at US$89.80 per barrel.
At the open, the TSX/S&P Composite Index eased back 68.37 points at 21,702.85. Yesterday, the TSX peaked at a new all-time high of 21,772.52 points.
Gold was down US$12.10 at US$1,931.10 per ounce.
