By Commodity News Service Canada
WINNIPEG, March 12 (MarketsFarm) The Canadian dollar rose slightly overnight thanks to gains in crude oil prices and optimism on the global trade front.
At 8:45 CDT Tuesday morning the Canadian dollar was at US$0.7462 or C$1.3401, which compares with Monday’s North American close of US$0.7455 or C$1.3414.
Crude oil prices hit its highest in recent weeks as Saudi Arabia continued to curb the nation’s supply. A Saudi official said the country is expected to ship less than seven million barrels a day in April, which is significantly less than the requested 7.6 million barrels a day. Continued blackouts in Venezuela impacted the country’s output, which contributed further to rising global prices.
Meanwhile, global stocks increased amid positive Brexit talks. Britain is expected to leave the European Union by the end of the month.
The TSX was higher at 8:45 CDT, up 27.21 points at 16,139.14
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