By MarketsFarm
WINNIPEG, Nov. 17 (MarketsFarm) – The Canadian dollar was holding relatively steady Tuesday morning as the euphoria surrounding the latest coronavirus vaccine test results subsided.
As of 8:44 CST, the Canadian dollar was at US$0.7638 or C$1.3097, compared to Monday’s close of US$0.7642 or C$1.3085.
Benchmark crude oil prices were slightly lower Tuesday morning, due to the rising number of reported cases of COVID-19 in Europe and the Americas, threatening demand. Further declines were stemmed by an OPEC+ report that indicated the alliance is prepared to extend their production cuts from January to March.
Brent crude oil slipped back 40 cents at US$43.42 per barrel. West Texas Intermediate (WTI) also lost 40 cents at US$40.94 per barrel. Meanwhile Western Canadian Select (WCS) was down 55 cents at US$31.30 per barrel.
At the start of trading, the TSX/S&P Composite Index dropped 110.43 points at 16,789.38.
Gold slipped 22 cents at US$1,888.73 per ounce.
