By MarketsFarm
WINNIPEG, March 20 (MarketsFarm) – The Canadian dollar was stronger on Friday morning, hovering above 70 cents for the first time in two days.
At 8:30 CDT Thursday morning the Canadian dollar was at US$0.7005 or C$1.4286 which compares with Thursday’s North American close of US$0.6899 or C$1.4495.
The Canadian dollar found strength in yesterday’s rebounding oil prices, spurred by rumours that the United States may coordinate production cuts. U.S. President Donald Trump has also indicated he may intervene in the price war between Saudi Arabia and Russia.
The TSX was up by 99.26 points at 8:45 CDT to trade at 12,256.85 points.
West Texas Intermediate was down by 12 cents at US$25.10 per barrel, and Brent crude was down 16 cents at US$28.31 per barrel.
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