Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) – The Canadian dollar was slightly higher on Tuesday morning, aided by a weaker United States dollar and rising crude oil prices.
As of 8:34 am CDT, the Canadian dollar was at US$0.7334 or C$1.3636, compared to Monday’s close of US$0.7320 or C$1.3662.
On the U.S. Dollar Index, the greenback dropped 0.766 of a point at 110.890 as the U.S. economy struggles.
Benchmark crude oil prices continued to push upward Tuesday morning, as OPEC+ remains determined to press ahead with a one million-barrel per day production cut.
Brent crude oil tacked on US$2.47 at US$91.33 per barrel. West Texas Intermediate (WTI) increased US$2.26 at US$85.89/barrel. Western Canadian Select (WCS) was up US$1.34 at US$62.38/barrel.
Shortly after the open, the TSX/S&P Composite Index jumped 325.36 points at 19,206.55.
Gold added US$18.20 at US$1,720.20 per ounce.
