Glacier FarmMedia – The Canadian dollar was slightly higher on Wednesday morning.
The loonie was at US$0.7263 or US$1=C$1.3768 as of 8:29 a.m. CDT, compared to Tuesday’s close at US$0.7260 or US$1=C$1.3775.
The United States Dollar Index was down 0.24 of a point at 97.86.
Crude oil prices were weaker on Wednesday as the Energy Information Agency raised its projected 2025 oil surplus by 600,000 barrels per day at 1.7 million, while also raising its 2026 projected surplus by 400,000 bpd at 1.5 million. Brent crude oil was down US$0.08 per barrel at US$66.04/barrel. West Texas Intermediate dropped US$0.13 at US$63.04/barrel.
The TSX/S&P Composite Index added 92.29 points at 28,013.55 as the markets expect the U.S. Federal Reserve to cut interest rates after the Labor Department reported no change to the country’s inflation rate in July.
Gold added US$7.00 per ounce at $3,406.00.
