By Commodity News Service Canada
WINNIPEG, MB, Feb. 23, 2017 (CNS Canada) The Canadian dollar was stronger Thursday morning, as a rally in crude oil provided support.
At 9:46 CST Thursday morning the Canadian dollar was at US$0.7629 or C$1.3108 which compares with Wednesday’s North American close of US$0.7608 or C$1.3144.
Crude oil was up on Thursday, as US inventories showed a surprising decline in the latest data. The move by OPEC to cut global production also appears to be holding.
General weakness in the US dollar index, amid ideas that the US Federal Reserve may not be raising interest rates as aggressively as some had thought, also provided some relative support for the Canadian currency.
The TSX was up by 17.63 points at 9:46 CST to sit at 15,847.85.
