By MarketsFarm
WINNIPEG, May 6 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, taking some direction from crude oil.
At 9:00 CDT Wednesday morning the Canadian dollar was at US$0.7088 or C$1.4108 which compares with Tuesday’s North American close of US$0.7127 or C$1.4032.
Crude oil futures were down by about five per cent in early activity, as they backed away from four-week highs hit in overnight activity. Large inventories in the United States triggered the downturn in oil.
A firmer tone in the U.S. dollar internationally and expectations for poor jobs data in a report out on Friday
also weighed on the Canadian currency.
The TSX was down by 8.67 points at 9:00 CDT to trade at 14,802.89 points.
