By MarketsFarm
WINNIPEG, Dec. 9 (MarketsFarm) – The Canadian dollar was slightly higher Wednesday morning, due to gains in crude oil prices.
As of 8:43 CST, the Canadian dollar was at US$0.7817 or C$1.2792, compared to Tuesday’s close of US$0.7808 or C$1.2808.
Benchmark crude oil prices were higher Wednesday morning on the prospect of an economic stimulus package in the United States. While hopes for the COVID-19 vaccines also provided support, the continuing surge in the number of reported cases stymied larger gains.
Brent crude oil rose 42 cents at US$49.26 per barrel. West Texas Intermediate (WTI) increased 39 cents at US$45.99 per barrel. Western Canadian Select (WCS) was up 31 cents at US$33.81 per barrel.
At the start of trading, the TSX/S&P Composite Index was flat with a small decline of 2.34 points at 17,636.66.
Gold fell US$16.95 at US$1,853.62 per ounce.
