By MarketsFarm
WINNIPEG, Feb. 22 (MarketsFarm) – The Canadian dollar was holding near unchanged Tuesday morning, as the mounting tensions between Russia and Ukraine kept world markets on edge.
At 8:55 a.m. CST Tuesday morning the Canadian dollar was at US$0.7857 or US$1=C$1.2728, which compares with Friday’s close of US$0.7853 or US$1=C$1.2734. Markets were closed Monday for provincial holidays across Canada and Presidents’ Day in the United States.
Crude oil was up sharply Tuesday morning as Russia recognized two separatist groups in Ukraine and moved closer to a full-scale invasion of the country. Western sanctions on Russia would likely slow the movement of oil and natural gas.
West Texas Intermediate was up by 3.6 per cent at US$93.47 per barrel.
Meanwhile, the TSX was slightly lower, down 11.11 points at 8:55 CST, trading at 20,997.09 points.
