Glacier FarmMedia – The Canadian dollar showed a small increase on Wednesday, following gains in crude oil.
The loonie settled at US$0.7239 or US$1=C$1.3814, compared to US$0.7231 or US$1=C$1.3829 on Tuesday. The U.S. Dollar Index was up 0.16 of a point at 98.80.
Crude oil prices were higher as the fire in an oilfield in Kazakhstan outweighed concerns over the global economy and oversupply.
West Texas Intermediate added US$0.33 per barrel at US$60.69. Brent crude oil grew by US$0.37/barrel at US$65.29.
Stock markets were recovering on Wednesday after U.S. President Donald Trump’s comments on Greenland sent them sharply downward on Tuesday. The TSX/S&P Composite Index gained 101.25 points to close at 32,851.53.
Gold continued to climb, rising US$58.20 per ounce at US$4,824.00 after peaking at an all-time high of US$4,891.10.
