Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Aug. 18 (MarketsFarm) – The Canadian dollar was virtually unchanged on Thursday morning, as a stronger United States dollar offset increases in crude oil prices.
As of 8:36 am CDT, the Canadian dollar was at US$0.7743 or C$1.2913, compared to Wednesday’s close of US$0.7745 or C$1.2912.
On the United States Dollar Index, the greenback advanced 0.274 of a point at 106.760.
Benchmark crude oil prices were higher on Thursday morning following the U.S. Energy Information Administration (EIA) report that stockpiles declined by a net 7.06 million barrels, while exports increased to five million barrels per day.
West Texas Intermediate (WTI) added US$1.53 at US$89.64 per barrel. Brent crude oil gained US$1.79 at US$95.44 per barrel. Western Canadian Select (WCS) bumped up 34 cents at US$69.40 per barrel.
At the open, the TSX/S&P Composite Index increased 57.20 points at 20,238.64.
Gold nudged up US$1.50 at US$1,778.20 per ounce.
