WINNIPEG – The Canadian dollar is holding steady for the most part on Wednesday morning.
As of 8:38 a.m. CST on Wednesday, the loonie was at US$0.7868 or US$1=C$1.2710, compared to Tuesday’s close of US$0.7869 or US$1=C$1.2708.
The United States Dollar Index dropped 0.31 of a point to 95.95. The U.S. Labor Department reported on Tuesday that a record 4.5 million Americans quit their jobs in November.
Benchmark crude oil prices jumped on Wednesday as demand outweighed concerns over the Omicron COVID-19 variant. Brent crude oil gained US$1.04 per barrel to US$81.04. West Texas Intermediate (WTI) added US$0.98 to US$77.97/barrel. Western Canadian Select (WCS) increased US$0.66 to US$65.49/barrel. OPEC+ and its allies agreed on Tuesday to add 400,000 more barrels a day starting in February.
The TSX/S&P Composite Index advanced 26.31 points to 21,262.83.
Gold rose US$12.50 per ounce to US$1,827.10.
