Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 13 (MarketsFarm) – The Canadian dollar was higher Friday morning, benefitting from increases in global crude oil prices.
As of 8:36 am CDT, the Canadian dollar was at US$0.7692 or C$1.2988, compared to Thursday’s close of US$0.7669 or C$1.3039.
On the U.S. Dollar Index, the greenback remained at its strongest levels in nearly 20 years, with a gain of 0.118 of a point at 105.010.
Benchmark crude oil prices were higher on Friday morning due to tightening global supplies. However, gains were tempered by sluggish demand from China as COVID-19 continued to stall its economy.
West Texas Intermediate (WTI) advanced US$2.81 at US$108.94 per barrel. Brent crude oil increased US$2.60 at US$110.05 per barrel. Western Canadian Select (WCS) rose US$1.99 US$95.04 per barrel.
At the open, the TSX/S&P Composite Index climbed 172.92 points at 19,871.87.
Gold lost US$24.10 at US$1,800.50 per ounce.
