By MarketsFarm
WINNIPEG, Aug. 25 (MarketsFarm) – The Canadian dollar was slightly softer Wednesday morning, seeing a modest correction after strengthening sharply relative to its United States counterpart earlier in the week.
At 8:45 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.7910 or US$1=C$1.2642 which compares with Tuesday’s North American close of US$0.7931 or US$1=C$1.2608.
Profits for the Royal Bank of Canada surged in the third quarter, despite a decline in revenue, as the bank released over C$500 million from its rainy day fund. Net income was up 34 per cent on the year, at roughly C$4.3 billion on an adjusted basis.
West Texas Intermediate crude oil was holding relatively steady in early activity, down only 0.1 per cent at US$67.47 per barrel.
The TSX was stronger, up 16.89 points at 8:45 CDT, trading at 20,564.65 points.
