By MarketsFarm
WINNIPEG, Nov. 14 (MarketsFarm) – The Canadian dollar was slightly lower Thursday morning.
As of 9:00 CST, the Canadian dollar was at US$0.7539 or C$1.3261. That compares to Wednesday’s North American close of US$0.7548 or C$1.3249.
Crude oil prices were higher Thursday morning on OPEC’s expectations that global oil surpluses will be smaller in 2020. Also, the American Petroleum Institute reported United States crude stockpiles dropped by 541,000 barrels for the week ended Nov. 8, rather than increasing by 1.6 million barrels as forecast.
Brent crude oil was up 66 cents at US$63.03 per barrel and West Texas Intermediate rose 51 cents at US$57.63 per barrel. Western Canadian Select gained 69 cents at US$39.52 per barrel.
In early trading, the TSX/S&P Composite Index was up 8.03 points at 16,967.86, as it pushed passed it all-time record high set at yesterday’s close. The TSX has been getting strength from the materials sector, while concerns over the unsigned U.S./China trade have tempered larger gains.
Gold was up US$4.11 at US$1,467.66 per ounce.
