Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 28 (MarketsFarm) – In a display of volatility, the Canadian dollar was lower on Friday morning, pulling back after a strong close yesterday.
As of 8:34 CDT, the Canadian dollar was at US$0.8265 or C$1.2096 compared to Thursday’s close of US$0.8283 or C$1.2073.
On the United States Dollar Index, the greenback pushed higher by 0.421 at 90.380 points.
Benchmark crude oil prices were higher Friday morning, pushing towards two-year highs as demand in the U.S. market improves.
However, the OPEC+ alliance has indicated it’s very likely to increase oil production levels following its meeting on June 1.
Brent crude oil gained 31 cents at US$69.77 per barrel. West Texas Intermediate (WTI) rose 44 cents at US$67.29 per barrel. Western Canadian Select (WCS) was up 30 cents at US$53.16 per barrel.
At the opening the TSX/S&P Composite Index increased by 106.51 points at 19,880.92.
Gold was unchanged at US$1,898.50 per ounce.
