By Commodity News Service Canada
Winnipeg, April 1 – The Canadian dollar firmed against its American counterpart Wednesday morning, as US index futures narrowed on expectations of an Iranian nuclear deal.
At 8:55 CDT Wednesday morning, the loonie was up 0.0001 of a cent to US$0.7898 or US$1 = C$1.2661.
Brent crude oil futures rallied to US$55.50 a barrel as talks between the west and Iran intensified. Iran’s senior nuclear negotiator told reporters he was hopeful a deal could be in the books by Wednesday night.
Canada’s corporate profit margins reached their highest point in 27 years, according to a report by CIBC.
On the commodity markets the May crude contract in New York rose U$0.09 to US$47.69 a barrel. The April gold contract jumped $13.60 to US$1,196.80 an ounce.
At 8:55 CDT Wednesday morning, the TSX was up 4.84 points to 14,905.41.
