By MarketsFarm
WINNIPEG, May 22 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, despite lower crude oil prices.
As of 8:40 CDT, the Canadian dollar was at US$0.7471 or C$1.3381 Wednesday morning. That compares to Tuesday’s North American close of US$0.7455 or C$1.3413.
Crude oil prices were down Wednesday morning as the United States/China trade war drags on and is threatening the global economy, according to the OECD. Also weighing on values was data showing U.S. crude inventories had increased.
West Texas Intermediate crude oil was down 65 cents at US$62.48 per barrel Wednesday morning. Brent crude oil lost 40 cents at US$71.78 per barrel.
The TSX/S&P Composite Index was down 99.93 points Wednesday morning at 16,326.54 points. As with other stock markets, the
TSX was caught up in the global concerns over the U.S./China trade war.
Gold was up US$1.70 on Wednesday morning at US$1,274.90 per ounce.
