By Commodity News Service Canada
WINNIPEG, March 13 (MarketsFarm) The Canadian dollar rose slightly overnight, as oil prices also enjoyed a modest lift thanks to slower-than-expected production out of the United States.
At 8:45 CDT Wednesday morning the Canadian dollar was at US$0.7485 or C$1.3360, which compares with Tuesday’s North American close of US$0.7475 or C$1.3378.
Crude oil prices continue to climb as the U.S. Energy Information Administration revised its 2020 production forecast from 13.20 million barrels per day to 13.03 barrels per day. Sanctions against Venezuelan oil exports continue to drive crude prices higher.
Meanwhile, global stock futures have lifted slightly, despite continued uncertainties between global trade superpowers U.S. and China. Robert Lighthizer, U.S. Trade Representative, refused to provide a finalized timeline for the end of trade talks between the two countries when he testified before the Senate Finance Committee on Tuesday, March 12.
The TSX was higher at 8:45 CDT, up 30.42 points at 16,175.70
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