By MarketsFarm
WINNIPEG, Oct. 6 (MarketsFarm) – The Canadian dollar was firm on Tuesday morning, taking its cue from the United States Dollar Index.
As of 8:40 CDT, the Canadian dollar was at US$0.7539 or C$1.3267, compared to Monday’s close of US$0.7536 or C$1.3269.
Although the U.S. Dollar Index dipped below 93.50 points, the greenback remained relatively firm against other major world currencies including the loonie.
Benchmark crude oil prices were higher Tuesday morning, as oil production facilities in the Gulf of Mexico were being shut down ahead of Hurricane Delta. Also, a strike by oil workers in Norway propped up crude prices.
Brent crude oil gained US$1.34 at US$42.63 per barrel. West Texas Intermediate (WTI) increased US$1.37 at US$40.59 per barrel. Western Canadian Select (WCS) was 72 cents at US$30.21 per barrel.
At the start of trading, the TSX/S&P Composite Index was up 40.43 points at 16,450.62.
Gold gained US$6.42 at US$1,919.96 per ounce.
