Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 31 (MarketsFarm) – The Canadian dollar was higher Wednesday morning, following a Statistics Canada report that said the country’s economy grew by 0.7 per cent in January.
As of 8:35 CDT, the Canadian dollar was at US$0.7944 or C$1.2588, compared to Tuesday’s close of US$0.7917 or C$1.2631.
Benchmark crude oil prices were lower on Wednesday morning, ahead of the OPEC+ meeting on Thursday to discuss production. It remains somewhat uncertain if the alliance will continue, halt or increase current production cuts of 8 million barrels per day. Reports stated OPEC+ was leaning towards keeping production as is for now.
Brent crude oil was down 45 cents at US$63.69 per barrel. West Texas Intermediate (WTI) fell 41 cents at US$60.14/barrel. Western Canadian Select (WCS) was nudged two cents lower at US$50.05/barrel.
At the opening the TSX/S&P Composite Index was flat with a small gain of 6.03 points at 18,711.59.
Gold edged up US$1.40 at US$1,687.40 per ounce.
