By MarketsFarm
WINNIPEG, June 24 (MarketsFarm) – The Canadian dollar was lower on Wednesday morning as crude oil prices and stock market values were down because of sharp increases in reported cases of COVID-19.
As of 8:37 CDT, the Canadian dollar was at US$0.7364 or C$1.3572, compared to Tuesday’s close of US$0.7399 or C$1.3516.
Benchmark crude oil prices were slightly lower Wednesday morning, due to pandemic concerns along with larger than expected United States crude inventories weighing on values.
Brent crude oil was down 76 cents at US$41.87 per barrel. West Texas Intermediate (WTI) fell 67 cents at US$39.70 per barrel. Western Canadian Select (WCS) dropped 50 cents at US$30.49 per barrel.
At the opening, the TSX/S&P Composite Index dropped 92.14 points at 15,472.61.
Gold slipped US$1.24 at US$1,767.18 per ounce.
