Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 25 (MarketsFarm) – The Canadian dollar was higher on Friday morning as the United States dollar pulled back and crude oil prices bumped up.
As of 8:34 CDT, the Canadian dollar was at US$0.8138 or C$1.2289 compared to Thursday’s close of US$0.8120 or C$1.2316.
On the U.S. Dollar Index, the greenback was down 0.215 at 91.580 points.
Benchmark crude oil prices were higher on Friday morning, due in part to reduced stockpiles as global demand is believed to be picking up. However, OPEC+ meets on July 1 to discuss increased production as oil prices recently hit their highest levels since October 2018.
West Texas Intermediate (WTI) rose 20 cents at US$73.52 per barrel. Brent crude oil gained 20 cents at US$75.76 per barrel. Western Canadian Select (WCS) nudged up five cents at US$59.56 per barrel.
At the opening the TSX/S&P Composite Index edged higher 15.70 points at 20,230.82.
Gold jumped US$11.90 at US$1,788.60 per ounce.
