By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar stepped back on Wednesday morning, getting little direction from the United States dollar and crude oil.
As of 8:42 am CST, the loonie was at US$0.7246 or US$1=C$1.3798, compared to Tuesday’s close of US$0.7252 or US$1=C$1.3789 On the U.S. Dollar Index, the greenback shed 0.027 of a point at 98.290.
Benchmark crude oil prices were lower on Wednesday morning, as the market took in U.S. President Donald Trump’s statement that the U.S. will import about US$2 billion worth of Venezuelan crude.
West Texas Intermediate gave up 48 cents at US$56.965 per barrel and Brent crude was down 26 cents at US$60.44.
In morning activity, the TSX/S&P Composite Index dropped 208.10 points at 32,215.98.
Gold gave up US$41.80 at US$4,454.20 per ounce.
END
