WINNIPEG – The Canadian dollar made a slight gain on Wednesday morning.
As of 8:36 a.m. CST, the loonie was at US$0.7880 or US$1=C$1.2690, compared to Tuesday’s close of US$0.7870 or US$1=C$1.2707.
The United States Dollar Index advanced 0.38 of a point to 96.87. The U.S. Commerce Department announced on Wednesday the country’s economy expanded at an annualized rate of 2.1 per cent in the third quarter.
Benchmark crude oil prices dipped on Wednesday morning, one day after U.S. President Joe Biden announced the release of strategic petroleum reserves to counter rising prices. Brent crude oil slipped US$0.37 per barrel to US$81.94. West Texas Intermediate (WTI) declined US$0.43 to US$78.07/barrel. Western Canadian Select (WCS) retreated US$0.40 to US$58.59/barrel.
The TSX/S&P Composite Index lost 66.50 points to 21,387.27.
Gold shed US$1.10 per ounce to US$1,782.70.
