WINNIPEG – The Canadian dollar surpassed the 80 United States cent mark as crude oil prices rise once again.
As of 8:37 a.m. CDT, the loonie was at US$0.8034 or US$1=C$1.2447, compared to US$0.7994 or US$1=C$1.2509 on Tuesday. The Canadian government tabled its new carbon emissions reduction plan in Parliament on Tuesday, asking for a 42 per cent reduction of oil and gas emissions by 2030. The federal budget will be tabled on April 7.
The U.S. Dollar Index dropped 0.51 of a point at 97.90.
Benchmark crude oil prices moved upwards after little progress in peace talks and Russia shelling the Ukrainian cities of Kyiv and Chernihiv after saying it would reduce military presence in those areas. Brent crude oil added US$3.58 per barrel to US$113.81. West Texas Intermediate (WTI) advanced US$3.45 to US$107.69/barrel. Western Canadian Select (WCS) jumped US$3.53 to US$97.31/barrel.
The TSX/S&P Composite Index gained 16.22 points to 22,103.44.
Gold increased US$10.60 per ounce to US$1,928.60.
