By MarketsFarm
WINNIPEG, Aug. 25 (MarketsFarm) – The Canadian dollar was slightly higher on Tuesday morning, due to a weaker United States dollar.
As of 8:48 CDT, the Canadian dollar was at US$0.7585 or C$1.3186, compared to Monday’s close of US$0.7572 or C$1.3207.
The U.S. Dollar Index slipped under 93.100 points on Tuesday morning as the Euro gained strength.
Benchmark crude oil prices were higher on Tuesday morning, as Hurricane Laura is forecast to intensify over the next 24 hours. Reports said more than 80 per cent of oil output and almost 60 per cent of natural gas production in the Gulf of Mexico has been shut down.
Brent crude oil rose 80 cents at US$45.93 per barrel. West Texas Intermediate (WTI) was increased 81 cents at US$43.43 per barrel. Western Canadian Select (WCS) was up 62 cents at US$31.76 per barrel.
At the start of trading, the TSX/S&P Composite Index was flat with a small gain of 2.77 points at 16,629.41.
Gold was down US$2.23 at US$1.926.64 per ounce.
