Glacier FarmMedia – The Canadian dollar moved slightly upwards on Wednesday morning.
The loonie was at US$0.7175 or US$1=C$1.3937 as of 8:33 a.m. CDT, compared to Tuesday’s close at US$0.7168 or US$1=C$1.3951.
The United States Dollar Index continued to strengthen, rising 0.27 of a point at 98.85. The index hasn’t reached 99 points since the beginning of August.
Crude oil prices were higher on Wednesday due to a less-than-expected output hike by OPEC+ for November. This is despite data released from the American Petroleum Institute on Tuesday saying U.S. crude stocks rose 2.78 million barrels in the week ended Oct. 3.
Brent crude oil increased US$0.54 per barrel at US$65.99/barrel. West Texas Intermediate added US$0.55 at US$62.28/barrel.
The TSX/S&P Composite Index advanced 56.62 points at 30,408.34.
Gold broke its record high again on Wednesday, reaching US$4,072.00 per ounce before coming down to US$4,056.80, up US$52.40 from Tuesday.
